Airbnb CFO Out in Management Shakeup, No IPO Planned for 2018

Airbnb chief financial officer Laurence Tosi, who had long been rumored to be eyeing a position as the company’s chief operating officer, is leaving Airbnb almost three years after joining it. Instead, the company has named Airbnb chief business affairs and legal officer Belinda Johnson as its chief operating officer, the company’s first. Airbnb said Tosi is leaving the company to devote his time to Weston Capital Partners, his own investment fund, and will continue to serve on several external boards. Airbnb has hired a search firm, Crist Kolder Associates, to assist in the search for a new CFO. Ellie Mertz, Airbnb’s head of global financial planning and analysis, will serve as interim head of finance. No replacement for Johnson in her current role has been announced. In a statement, Airbnb CEO Brian Chesky wrote: “The COO is one of the most critical positions in any company. Before the holidays, I made a decision about who was right for this role and I’m incredibly excited to announce that we have appointed Belinda Johnson to be our COO.” As Airbnb pursues an initial public offering — which Chesky emphasized would not be happening in 2018 — the company’s need for a COO, a new position at the company, has become increasingly apparent, and the timing of this announcement is an interesting one, to say the least. “I know people will ask what these changes mean for a potential IPO," Chesky said. "Let me address this directly. We are not going public in 2018. Our primary focus is becoming a 21st century company and advancing our mission. We’re working on getting ready to go public and we will make decisions about going public on our own timetable.” For More Skift Coverage of Airbnb See the Stories Below Airbnb's Road to an IPO: Everything You Could Possibly Need to Know Airbnb Confirms Appointment of CFO Who Can Prepare It for IPO Airbnb Signals Big Changes With the Appointment of American Express CEO to Its Board Airbnb Mu