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Airbnb has once again made the right choice by taking over another Amazon executive (AMZN) to lead the company towards a likely IPO in 2019.
This time, the private company poached Dave Stephenson, a 17-year-old veteran of Amazon and current vice president and chief financial officer of the World Consumer Organization of Amazon, responsible for all online sales of e-commerce . This decision takes Stephenson away from the company he acquired in 1999 from Procter & Gamble (PG), which he has been keeping since then, taking a two-year break with Big Fish Games.
The big name hires the company well for a highly anticipated IPO, filling a gap that has existed since the departure of the previous CFO, Laurence Tosi, in February, which derailed the discussions on a previous IPO. Leasing can spark new speculation.
"I am proud of everything we have accomplished, but Airbnb is just beginning," said CEO Brian Chesky in a statement. "In the coming years, Dave will be quarter of Airbnb for long-term growth, which will allow us to be even more efficient and leverage what makes Airbnb unique to create new businesses." and continue to grow. "
The company now includes executives with genealogies such as Yahoo, Amazon, McKinsey & Company, eBay (EBAY) and PayPal (PYPL).
Stephenson will join the executive suite in January and report directly to Chesky.
Executive Exodus from Amazon
The gain of Airbnb is the loss of Amazon. Again.
"I have had the pleasure of working with Dave during his long and successful career at Amazon," said former chief financial officer of Amazon, Tom Szkutak. "Dave has successfully led the Finance function for many diverse and fast-growing segments of the company, including Retail, Market and AWS, and has built exceptional financial teams."
More recently, Stephenson has led online retail sales, making his departure a little uncomfortable for Cyber Monday.
Stephenson is also not the first veteran of Amazon to transfer his allegiances to Airbnb this year.
Greg Greeley, former head of Amazon Prime, joined Airbnb to become president of Homes after spending nearly two decades serving the King of Commerce, led by Jeff Bezos. Greeley helped invent and launch the now ubiquitous Prime Service in 2005, taking the lead of the unit after some time at the top of the international unit.
The departure of another executive after the company has experienced the most severe losses in recent years could prove problematic, especially in the midst of a nervous market on high shares. from FAANG, such as Apple (AAPL) and Facebook (FB) – and, of course, Amazon.
For now, the anticipation of sales Cyber Monday occupies a central place, far beyond any cloud likely to result in a loss of stock.
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