Airbnb Inc. has made significant changes to its leadership team. Ellie Mertz has been appointed as the new Chief Financial Officer (CFO), succeeding Dave Stephenson, who will now take on the role of the company’s first-ever Chief Business Officer. Additionally, Catherine Powell, the Head of Hosting, will transition to an advisory position and will be departing from Airbnb in the coming year.
In light of these developments, Airbnb has stated that it is entering a new phase and has thus created the position of Chief Business Officer. The company has spent the past year fine-tuning its core services and is now ready for the next chapter.
As Chief Business Officer, Dave Stephenson’s responsibilities will be crucial to the long-term growth and success of Airbnb. He will be responsible for guiding international expansion, driving global host supply across existing and new ventures, and leading all business and corporate development initiatives. Brian Chesky, Chief Executive and co-founder of Airbnb, emphasized Stephenson’s critical role in an e-mail to employees.
Following this announcement, Airbnb’s stock experienced a slight increase of over 1% on Tuesday. Year-to-date, the shares have seen a significant rise of 58%, compared to the S&P 500 index’s gain of 19%.
Airbnb continues to make strategic moves in shaping its leadership team to support its future endeavors. Stay tuned for more updates as the company charts its course forward.