Menu
Facebook CFO to leave the company

Facebook CFO to leave the company

Facebook said it wants its next CFO to have public company experience

Facebook's seasoned CFO will leave the company, the social-networking site confirmed Wednesday.

Gideon Yu was also a vice president. He joined Facebook in August 2007 after working for YouTube and negotiating Google's acquisition of the video-sharing site.

Facebook was mum on the reason for Yu's departure, but said it will look for a new candidate who has experience in working in a public company.

Facebook is a private company and has relied on raising investor funds to continue its expansion.

"Gideon has played an important role in helping us achieve our financial success, building a strong finance team and establishing the core financial operations of our company," according to a Facebook statement.

Yu was senior vice president and treasurer for nearly four and a half years at Yahoo, where he oversaw that company's acquisition of major online companies such as Alibaba/Taobao, Overture and Flicker.

Facebook also sought to play down the effects the global recession is having on its business.

"Despite the poor economic climate, we are pleased that our financial performance is strong and we are well positioned for the next stage of our growth," the statement said.

Facebook has surpassed MySpace in unique page views to become the number one social-networking site, according to Compete.com, a Web analytics company.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags FacebookCFOs

Featured

Slideshows

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

More than 500 channel leaders gathered in Auckland on 21 October at the ​Reseller News Innovation Awards ​2020 to celebrate the achievements of the New Zealand technology industry's top partners, start-ups, vendors, distributors and individuals.

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners
Meet the winners of the 2020 Reseller News Innovation Awards

Meet the winners of the 2020 Reseller News Innovation Awards

Reseller News honoured the standout players of the New Zealand channel in front of more than 500 technology leaders in Auckland on 21 October, recognising the achievements of top partners, start-ups, vendors, distributors and individuals.

Meet the winners of the 2020 Reseller News Innovation Awards
Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

This year’s Reseller News 30 Under 30 Tech Awards were held as an integral part of the first entirely virtual Emerging Leaders​ forum, an annual event dedicated to identifying, educating and showcasing the New Zealand technology market’s rising stars. The 30 Under 30 Tech Awards 2020 recognised the outstanding achievements and business excellence of 30 talented individuals​, across both young leaders and those just starting out. In this slideshow, Reseller News honours this year's winners and captures their thoughts about how their ideas of leadership have changed over time.​

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners
Show Comments