In a strategic move to steer Airbnb into its next phase of growth, the company has appointed Ellie Mertz as its new Chief Financial Officer, succeeding Dave Stephenson, who has been promoted to the role of Chief Business Officer. Mertz, an 11-year veteran of the short-term rental giant, has played a pivotal role in the company’s journey from adolescence to adulthood, overseeing substantial revenue growth that exceeded 100x.
Brian Chesky, Airbnb’s Chief Executive and co-founder, expressed confidence in Mertz’s ability to lead the financial strategy of the company. “Ellie’s superpower is that she combines a comprehensive knowledge of our business with impeccable judgment,” Chesky stated in a press release. Mertz, who previously served as the Vice President of Finance, played a crucial role in leading strategic finance and analysis, corporate development, and investor relations. Notably, she also orchestrated Airbnb’s successful initial public offering (IPO) in 2020.
Chesky revealed that the decision to create the Chief Business Officer role for Stephenson is part of Airbnb’s plan to embark on a new chapter. “Airbnb is at an inflection point. We spent 2023 perfecting our core service, and we’re now ready to turn the corner,” he communicated in an email to the staff on Tuesday.
The company’s announcement also included news of Catherine Powell, Global Head of Hosting at Airbnb, transitioning to an advisor role and planning to leave the company next year. Powell, who has been a significant figure in Airbnb’s hosting initiatives, contributed to the platform’s growth and success.
Mertz’s transition to the role of CFO is set to take place after Airbnb’s February earnings call, marking a strategic move to ensure a smooth shift in financial leadership. Prior to her tenure at Airbnb, Mertz held the position of Vice President of Finance at Netflix, where she played various finance leadership roles from 2007 to 2013.
As Airbnb navigates this leadership transition, industry observers are keenly watching how Mertz and Stephenson will collaborate to navigate the company through its next phase of evolution. With Chesky’s declaration of an inflection point, the company seems poised for exciting developments as it capitalizes on its strengthened leadership team to explore new opportunities and heights in the short-term rental market.
(Source: CNBC | WSJ | Bloomberg | MarketWatch)
