Facebook Friends New CFO

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Facebook found its replacement for former chief financial officer Gideon Yu, announcing Monday that ex-Genentech executive vice president and CFO David Ebersman will take the CFO slot at the social-networking site.

Ebersman will report to Facebook founder and CEO Mark Zuckerberg and be responsible for the company’s finance, accounting, investor relations and real estate functions when he assumes his post in September.

Ebersman was with the biotechnology firm, which was recently acquired by Roche, for almost 15 years.


“We quickly recognized that David was the right person for Facebook,” Zuckerberg said in a release. “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.”

Ebersman added, “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. 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.”