Facebook Names Former Genentech Executive As Its CFO
Facebook announced that David Ebersman, the former executive vice president and chief financial officer (CFO) of Genentech, which was recently acquired by Roche, will become the company's chief financial officer.
Ebersman will formally start in September 2009.
Ebersman worked at Genentech for nearly 15 years. He served as the firm's executive vice president and CFO from 2006 through April 2009, when Roche Group acquired the company. Prior to joining the company's finance organization, he was senior vice president of Product Operations. He joined Genentech as a business development analyst. Previously, he was a research analyst at Oppenheimer & Company Inc.
Facebook CEO and Founder Mark Zuckerberg said, "We received a lot of interest in the CFO position and had the opportunity to meet with many impressive candidates. 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."
The news could propel rumors Facebook is preparing for an IPO.
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