The CEO of YouTube, Susan Wojcicki, is stepping down as CEO after nearly a 10-year stint. In a blog post released on Thursday, she intends to spend her time on health, family, and personal projects. Apart from working as CEO at YouTube, Susan also works as an advisor at Google and Alphabet Inc.
According to information gathered from US News Websites, the chief producing officer, Neal Mohan, will take over the role of CEO at YouTube. According to a YouTube spokesperson, the change will be implemented immediately. Susan said it is the right time for her to step down, and YouTube already has a talented leadership team.
Exit when Susan’s services are essential to boost the bottom line
The departure of Susan comes at a time when her services are important at YouTube, monitoring the growth phase and improving its bottom line. She also played an important role in navigating the video platform, which faced new threats from TikTok services and controversies involving content moderation. Susan was on leave for health reasons even in the last month, according to the available information.
Neal Mohan was engaged in supervising the broad changes to the YouTube product line. He also played an essential role in the platform’s policy debates. He will report to Sundar Pichai, the CEO of Google. In a statement, Sundar said Susan played an important role in building an excellent team at YouTube. Mr. Neal will lead the platform to succeed in the next decade.
Ad revenues drop at YouTube
In the latest BNN breaking news, a drop in the ad business at YouTube is a cause for leadership change at the company. The video platform is betting on generating revenues by introducing subscription packages like a YouTube TV cable bundle. Its ad revenues declined by 7% in Q4 compared to the same period in 2021. It also posted a drop in revenues in Q3.
Susan, 52, has been with the search giant for the past 25 years after joining as a marketing manager. She has been instrumental at Google in leading teams and improving the image of Google search since her arrival. She took the reins of YouTube as CEO in 2014. She turned YouTube into a destination for advertisers and introduced new business lines, such as one-stop video creation for online videos.
Posted revenues of $29.2 billion in 2022
YouTube posted $29.2 billion in advertising revenues in 2022. It also maintains a separate corporate office. The platform also introduced streaming service marketing after it recently moved into TV. It agreed to a $2 billion annual contract with the NFL’s Sunday Ticket franchise.
After working as SVP (display and video ads at Google), Neal moved to YouTube in the year 2015. He was responsible for business brokering ads around the Internet and its sites. He joined the search platform after Google acquired DoubleClick, an advertising technology company, for $3.1 billion in 2008.
Neal also worked as a spokesman for YouTube before the Governmental Affairs and Senate Homeland Security Committees heard about national security and business issues at social media firms in 2022.