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Facebook CFO Resigned

Posted on 10. Apr, 2009 by admin in General, Tech Articles

Facebook confirmed on tuesday , Chief Financial Officer Gideon Yu is leaving. Mr yu was working just less than two years. The former YouTube exec, who bypassed a job with VC firm to join Facebook, gave no reason for his departure.

Microsoft bought a 1.6 per cent stake in Facebook for US$240 million (S$365 million) in 2007, but yet facebook is privately held firm still growing at rapid phase even in resession, when other IT giants are lagging behind.

Facebook chief operating officer Mark Zuckerberg has said in recent interviews that the company is focused on growth, not revenue. ‘We are grateful to Gideon for his contributions to Facebook and what we are trying to accomplish, 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.’
Facebook says it’s looking for a CFO with “public company experience.” He is the latest Facebook executive to leave, following co-founder Dustin Moskovitz and Chief Technology Officer Adam D’Angelo.

Last year, Moskovitz and Justin Rosenstein, an engineering manager at Facebook, left to form a startup to build software they hope will be “to your work life what Facebook.com is to your social life,” according to a note on Rosenstein’s Facebook profile.

Tags: 1.6 per cent stake in Facebook for US$240, Gideon Yu is leaving, Mark Zuckerberg, public company experience