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Airbnb Announces Executive Team Update

Airbnb Inc. has made changes to its top management and created a new position – Chief Business Officer – with the aim of expanding its presence in the global market.

According to the company’s press release, Dave Stevenson, who served as the Chief Financial Officer of Airbnb since 2019, will assume this position. The new CFO will be Ellie Mertz, who has been with the company for 11 years and played a crucial role, including in the company’s IPO in 2020.

Stevenson will be responsible for developing the company’s long-term growth plans and “ensuring international expansion,” including attracting new property owners to the platform, the company notes.

Airbnb’s shares are up by 0.1% in pre-market trading on Wednesday. Year-to-date, the company’s market capitalization has surged by 58% to $86.8 billion, while the S&P 500 index has gained 19% during the same period.

In an email to employees earlier today, Airbnb co-founder and CEO Brian Chesky shared the following in part:

On Catherine Powell: “Looking back, I can’t imagine the past four years without Catherine by my side. She and I spent a lot of time talking about the transition, and this decision wasn’t made lightly. Catherine is a trusted partner and friend, and while I’m sad she’ll be leaving Airbnb, I know she won’t be leaving my life.”

On creating the role of Chief Business Officer: “We’re introducing the role of Chief Business Officer because we’re about to embark on our next chapter as a company. Airbnb is at an inflection point. We spent 2023 perfecting our core service, and we’re now ready to turn the corner.”

On Dave Stephenson: “In this critical new role, Dave will drive growth across our existing and new businesses…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. As Chief Business Officer, Dave will be across all aspects of our strategy to expand beyond the core. This includes driving international expansion, growing global host supply (across existing and new businesses), and leading all business and corporate development activities at Airbnb.”

On Ellie Mertz: “Ellie has been my right hand for nearly 11 years…Under her leadership, our company grew from adolescence to adulthood, with revenue growing over 100x…Ellie’s superpower is that she combines a comprehensive knowledge of our business with impeccable judgment…She and I have grown together at Airbnb, and what I’m most excited about is that our journey together is just getting started.”

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