Latest Stock Market News Today: PPI inflation sinks stocks, credit card debt hits record, DocuSign layoffs

Jun 06, 2023

YouTube CEO Susan Wojcicki attends a conference at the Cannes Lions International Festival of Creativity, in Cannes, France, June 19, 2018. (Reuters/Eric Gaillard)

YouTube Chief Executive and one of the first Google employees, Susan Wojcicki, is stepping down from her role at the tech giant that started in her garage nearly 25 years ago, she said in a personal update on the video-sharing platform on Thursday.

Wojcicki, 54, will be replaced by her deputy Neal Mohan, a senior advertising and product executive who joined Google in 2008.

The change of guard comes as YouTube's advertising revenue fell for the second straight quarter amid intense competition for viewing time with short-form video services such as TikTok and Facebook's Reels, and streaming services like Netflix.

One of the most prominent women in tech, Wojcicki said she will focus on "family, health, and personal projects", and plans to take on an advisory role at Alphabet.

She was previously senior vice president for ad products at Google and became the CEO of YouTube in 2014.