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Facebook names new CFO
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08:35, June 30, 2009

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Facebook, the world's most popular social networking website, on Monday announced that it has selected David Ebersman as the company's new chief financial officer (CFO).

Ebersman was a former vice president and CFO of Genentech, the pioneering U.S. biotechnology firm which was acquired by Swiss pharmaceutical giant Roche in March.

Founded in February 2004, Facebook is now a privately held company and is headquartered in Palo Alto, California.

Ebersman will replace Gideon Yu, Facebook's former CFO who left in March. Facebook then said it was looking for a successor with "public company experience."

"We received a lot of interest in the CFO position and had the opportunity to meet with many impressive candidates," Mark Zuckerberg, chief executive officer and founder of Facebook, said in a statement.

"We quickly recognized that David was the right person for Facebook. He was Genentech's CFO while revenue tripled, and his success in scaling the finance organization of a fast growing company will be important to Facebook," he added.

Facebook said Ebersman will formally start at the company in September and "will oversee Facebook's finance, accounting, investor relations and real estate functions."


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