Facebook Announces New Chief Financial Officer

Facebook has named David Ebersman, the former executive vice president and chief financial officer of the biotechnology company Genentech, its new chief financial officer (CFO). Ebersman will report to Facebook’s Chief Executive Officer and Founder Mark Zuckerberg.

“We received a lot of interest in the CFO position and had the opportunity to meet with many impressive candidates,” said Zuckerberg. “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.”

Starting in September of this year Ebersman will be responsible for managing Facebook’s finances, accounting, investor relations, and real estate functions. Additionally, he will become a member of the company’s executive management team–a role that oversees all areas of company strategy, planning, and operations.

On being hired Ebersman said, “After meeting with Mark and the rest of the team, I was thoroughly impressed with everyone’s drive and sense of purpose to help people connect and share.” He added, “Mark is constantly pushing the company forward and he’s assembled a world-class team that is achieving remarkable results both for its users and as a business. I’m excited to join this effort and this new industry.”

Prior to getting hired at Facebook, Ebersman spent 15 years at Genentech, were he worked as the company’s executive vice president and CFO for nearly three years. Before that position, he was senior vice president of Product Operations.

-Melanie Saxe

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