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Facebook's CFO is stepping down

Staff writer |
Menlo Park, Ca., USA - April 24, 2014, Menlo Park, Ca., USA - Facebook announced that David Ebersman has informed the company of his intention to step down as chief financial officer after serving in the position for almost five years, effective June 1, 2014.

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Prior to joining Facebook in September 2009, Mr. Ebersman worked at Genentech Inc., a biotechnology company, most recently as its Chief Financial Officer and Executive Vice President. He joined Genentech in 1994 and served in a number of roles, including Senior Vice President, Product Operations; Vice President, Product Development; and Director, Business Development.

Prior to Genentech, Mr. Ebersman worked as a research analyst at Oppenheimer & Company Inc. He serves on the board of Ironwood Pharmaceuticals and was selected as a Fellow in the Henry Crown Fellowship Program.

Mr. Ebersman holds a bachelor’s in economics and international relations from Brown University. He will remain with the company through September to ensure a seamless transition of his responsibilities.

Facebook’s board of directors has appointed David M. Wehner, Facebook’s Vice President, Corporate Finance and Business Planning, as Chief Financial Officer effective June 1, 2014, to replace Mr. Ebersman.

Mr. Wehner has served as Facebook’s Vice President, Corporate Finance and Business Planning since November 2012. From August 2010 through November 2012, Mr. Wehner served as Chief Financial Officer of Zynga Inc.

From February 2001 to July 2010, Mr. Wehner was employed at Allen & Company, an investment bank focused on media and technology where he served as a Managing Director from November 2006 to July 2010, and a director from December 2005 to November 2006.

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