David Ebersman — the CFO who took Facebook public and attracted some level of scrutiny for its rocky initial ride — is departing the company later this year.
Facebook CFO Ebersman to Depart Social Networking Giant -- Will Likely Focus on Health Care Space
The CFO took Facebook public and attracted some level of scrutiny for its rocky initial ride.
Facebook
Since the IPO, though, it has been pretty smooth sailing — though rather busy — for Ebersman, who has helped with a number of big acquisitions, from Instagram for $1 billion to the recent WhatsApp buy for $19 billion. After going public in May of 2012 in what was one of the most disaster-prone offerings, Facebook’s stock is up more than 60 percent.
Facebook made the announcement as part of its first-quarter earnings statement today. Sources said Ebersman would likely be focusing on moving back into the health care space, where he worked before coming to the Silicon Valley social networking giant.
Ebersman will be replaced by David Wehner, the former Zynga CFO who has been his No. 2 finance exec as VP of corporate finance and business planning.
Facebook said that Ebersman will officially step down from the CFO job on June 1, but will stay through September to help complete the company’s $2 billion deal to buy Oculus VR.
This article originally appeared on Recode.net.
