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Going out on top, Facebook CFO moves on

The world’s largest social media network reported record first quarter results late Wednesday and CFO David Ebersman used the occasion to announce his departure.

Ebersman will be replaced as CFO by David Wehner who currently serves as Facebook’s vp of corporate finance and business planning. The transition will be effective June 1, but Ebersman will stay with the company until September to ensure a smooth transition. He spent five years as the company’s CFO and said he planned to return to the healthcare world. Ebersman spent 15 years at the biotech firm Genentech where he served as CFO from 2005 until 2009 when he joined Facebook as CFO. Prior to Genentech, Ebersman was a research analyst at Oppenheimer & Company.

“This has been a tough decision because Facebook is such a great company and has such a bright future ahead, but I've decided to move back into healthcare where I spent my career before Facebook," Ebersman said. "It's been a privilege working at Facebook and being part of such a great team. We have an incredibly talented finance organization, and I have complete confidence in Dave Wehner and his ability to lead the team going forward."

Wehner joined Facebook in November 2012 from online gaming company Zynga, where he served as CFO. Prior to that he spent nine years at Allen & Company where he was a managing director. Wehner has a B.S. in chemistry from Georgetown University, and an M.S. in applied physics from Stanford University.