St. Louis native named Facebook CFO

David Wehner, a St. Louis native and 1986 graduate of Saint Louis Priory School, was appointed chief financial officer at Facebook, a day after its five-year CFO stepped down.

Former CFO David Ebersman is reportedly returning to the health care field he had worked in.

Wehner joined Facebook in November 2012 and was serving as vice president of corporate finance and business planning under Ebersman. He is a former CFO at Zynga.

“David set us up to operate efficiently and make the long-term investments we need, and built an incredibly strong team including Dave Wehner, our next CFO. I look forward to working with Dave in his new role,” Facebook founder and CEO Mark Zuckerberg said in a statement.

Wehner is walking into a positive quarter in which Facebook earnings nearly tripled and revenue grew sharply on an 82 percent increase in advertising revenue, according to the Associated Press.

The online social network earned $642 million, or 25 cents per share, in the first quarter, up from $219 million, or 9 cents per share, in the same period a year ago. Facebook’s quarterly revenue was $2.5 billion, a 71 percent increase.

Ad revenue in the quarter totaled $2.27 billion, of which, mobile ads represented 59 percent.

According to the AP, there were 1.28 billion monthly Facebook users at the end of March, up 15 percent from a year earlier. The number of users who log in every day increased 21 percent to 802 million.
 
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