Tuesday, March 31, 2009
Facebook CFO Gideon Yu Out; Fast-Growing Social Network Says It’s Doing Fine Financially
Facebook CFO Gideon Yu is leaving Facebook, as the company announced internally today that it was replacing him and searching for a new CFO on the path to an eventual IPO.
The Wall Street Journal also reported the news, noting that the huge social-networking start-up was looking for a CFO with “public company experience.”
But several sources within the company said the departure was more due to an increasingly strained relationship between Yu and Facebook founder and CEO Mark Zuckerberg over strategic disagreements about a wide range of issues, from increasing ad revenue to fund-raising discussions with investors.
