After nine years running the Google video division,YouTube Chief Executive Officer Susan Wojcicki is stepping down from the role handing the reins to top lieutenant Neal Mohan.
Susan Diane Wojcick born on 5th July 1968 i is a Polish-American business executive who was the CEO of YouTube from 2014 to 2023. Her net worth was estimated at $765 million in 2022. Wojcicki has worked in the technology industry for over twenty years
Mohan had previously worked for Microsoft and is a member of the boards of Stitch Fix and 23andMe, two companies that specialise in genomics and biotechnology.
Executives of the embattled Adani group told investors in a call on Thursday that they would address deadlines to repay debt with options including private placement notes and cash from operations.
The management will come up with a plan to refinance Adani Green Energy’s bonds due in 2024 by the end of June, according to people familiar with the matter. The bonds rallied the most ever after the comments.
The debt will likely be refinanced with long-term private placement notes, with a potential maturity of 15 years, said the people, who spoke to Bloomberg on the condition of anonymity.
Bloomberg News reported earlier Thursday that Adani was considering privately placed bond offerings for some of its companies including Adani Green Energy.
The management said it was seeking to cut the group’s net debt to below three times Ebitda (earnings before interest, taxes, depreciation, and amortization) next year, from the current 3.2 times, the people said.
The group had previously said its companies faced no material refinancing risk and no near-term liquidity requirement.
Executives also said that $390 million of debt coming due over the next 12 months at the Adani Transmission Step-One Ltd level will be repaid using cash from operations, the people said.
Investors are zeroing in on the Adani group’s finances after Hindenburg Research accused it of fraud and market manipulation — charges it denies.
The conglomerate, whose business interests range from ports to renewable energy, tapped international markets to raise more than $8 billion worth of US currency bonds in recent years. It also took out at least that much in foreign-currency loans, data compiled by Bloomberg shows.
However, a spike in yields following the Hindenburg report has stoked concerns among some investors and analysts that at least for now debt financing costs would be prohibitively expensive for new bond deals.
Wojcicki said in a blog post that she planned to “start a new chapter” focused on her family, health and personal projects.
She’ll also take an advisory role, working across Google and parent Alphabet Inc.
“The time is right for me, and I feel able to do this because we have an incredible leadership team in place at YouTube,” she said.
Wojcicki is one of Google’s longest-serving employees and one of the highest-profile female executives in Silicon Valley.
After lending her garage to the company’s founders, she joined as an early marketing manager and rose through the ranks of Google’s advertising business.
In 2014, Google’s then-CEO, Larry Page, tapped Wojcicki to run YouTube, an online video company that Google acquired in 2006.
For years, YouTube had expanded ferociously but struggled to become profitable.
Wojcicki brought a renewed focus on challenging the TV ad market, boosting YouTube’s creators and its ties with media companies.
But Wojcicki also oversaw YouTube’s rockiest years. Under the Donald Trump presidency, the platform struggled with issues around extremism, disinformation and child safety.
Major advertisers boycotted the site multiple times in 2017. Since then, Wojcicki has gradually built trust back with advertisers and expanded YouTube’s TV streaming service.
Mohan has been Wojcicki’s top deputy for years, moving over from Google’s ads business to YouTube in 2015. He was widely seen as her natural successor.
