US: Airbnb has announced that it is reshuffling its executive leadership team, including the creation of a new chief business officer role, the appointment of a new chief financial officer, and the upcoming departure of a long-serving executive.
The former chief financial officer of Amazon’s worldwide consumer business unit, Dave Stephenson, who had been serving as Airbnb’s CFO since 2019, has been promoted to the role of the company’s first chief business officer, effective from January. He will be tasked with driving international expansion, growing Airbnb’s global host community, and leading all business and corporate development activities, according to co-founder and CEO, Brian Chesky.
In a note to employees sent on Tuesday, Chesky said: “As we expand beyond our core, it will be paramount to have an executive dedicated to our long-term growth plans, and there’s nobody better than Dave to do this.”
Chesky added that the creation of a new chief business officer position would mark an “inflection point” for the home-sharing platform, as it seeks to expand beyond its core short-term rental business and focus on new products and verticals to boost growth and grow its presence in under-penetrated global markets.
In its latest third quarter earnings report, Airbnb reported a “record summer travel season”, although it predicted greater “volatility” in Q4. Nights and Experiences booked on the platform grew by 14 per cent compared to the equivalent quarter a year ago, while Q3 revenue also saw an 18 per cent year-over-year growth over the same period.
Nights and Experiences booked on the platform grew 14 per cent to 113 million compared to a year ago, while there was a “sequential” acceleration in the year-over-year growth rate of nights booked worldwide in comparison with the second quarter
Meanwhile, Ellie Mertz, the current vice president of finance at Airbnb, has been appointed as CFO to take over the role vacated by Stephenson. She is expected to transition into the role in February after Airbnb’s next earnings call, and previously oversaw the company’s initial public offering [IPO] at the end of 2020.
In addition, Catherine Powell will move into an advisory role from her current global head of hosting position, before departing the company “later next year”.
Earlier in the day, Airbnb’s charitable arm Airbnb.org revealed that Christoph Gorder would lead the organisation as its new executive director.
And last month, Democrat politician and former White House chief of staff, Ron Klain, was announced as Airbnb’s chief legal officer from 1 January.
