YouTube CEO Susan Wojcicki stepping down
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YouTube CEO Susan Wojcicki is stepping down from her position as head of the popular video sharing platform. A Google (GOOG, GOOGL) employee for 25 years, Wojcicki has led YouTube for the last nine years, after moving over from her prior position as VP of ads and sales.
During her time as head of YouTube, Wojcicki turned the platform into one of the most popular destinations on the web. It's also become an integral part of Google's advertising business, bringing in $7.9 billion in Q4 2022 alone, and $29.2 billion throughout 2022. However, ad revenue fell from $8.6 billion year over year in the quarter.
On the company's fourth quarter earnings call earlier this month, Alphabet's chief business officer Philipp Schindler told investors, "Despite ongoing revenue headwinds in Q4, we're confident in YouTube's long-term trajectory."
Meanwhile, in a note to YouTube employees, Wojcicki said she's stepping away from the company to focus on her health, family, and personal projects.
"Over the years, I’ve worn many hats and done so many things: managed marketing, co-created Google Image Search, led Google’s first Video and Book search, as well as early parts of AdSense’s creation, worked on the YouTube and DoubleClick acquisitions, served as SVP of Ads, and for the last nine years, the CEO of YouTube," she said in a statement.
"I took on each challenge that came my way because it had a mission that benefited so many people’s lives around the world: finding information, telling stories and supporting creators, artists, and small businesses. I’m so proud of everything we’ve achieved. It’s been exhilarating, meaningful, and all-consuming."
Neal Mohan, who has served as YouTube's chief product officer since 2015, will step in for Wojcicki as the new head of YouTube. Wojcicki will continue to serve in an advisory role at Google.
The now-former head of YouTube famously joined Google as one of its first employees. She initially rented out her garage space to Larry Page and Sergey Brin as they built out the search engine.
YouTube is in the midst of broader transition. The company is in fierce competition with the likes of TikTok and Instagram for younger users. In 2021, it rolled out its Shorts product to better compete in the short-form video space.
The company is also expanding more into the live broadcast space, inking a deal to carry NFL Sunday Ticket as part of a move to increase interest in its YouTube TV platform.
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