LayoffBlog.com

April 1, 2009

Facebook finance chief Gideon Yu departing

Filed under: Facebook,media,social network,US — DF @ 5:49 pm

Facebook Inc., the closely held Internet company that’s reportedly been seeking a fresh round of financing, is parting ways with Chief Financial Officer Gideon Yu.
Facebook spokesman Larry Yu said Gideon Yu’s departure is unrelated to any effort by the company to raise further funds.

Source: MarketWatch

Update (April 1, 2009): Industry Shocked And Angered By Facebook CFO’s Firing. Gideon didn’t get along with Facebook’s top management. Gideon also had an “increasingly strained relationship” with CEO Mark Zuckerberg “over a series of strategic disagreements over a wide range of issues from increasing ad revenue to fundraising discussions with investors.” Facebook CEO Mark Zuckerberg is quick to push those he disagrees with out of the company. One shared sentiment though is that Mark is a very demanding person to work for, if you screw up, one day you are in, the next day out, persona non grata. Source: CNNMoney

Technologizer.com reports: “Reportedly, Yu left the company immediately after a meeting, symbolistic of Zuckerberg’s apparent “you’re with me or against me” mentality. But the way Facebook framed the departure is troubling”.. “Zuckerberg needs to learn if he wants to take his company public that investors do not like turmoil. The revolving door of executives at Facebook will make investors uneasy, and reluctant to invest in the company.”

Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.

%d bloggers like this: