Just days after Airbnb CEO Brian Chesky outlined the company’s plans toward moving into the next century, it was announced that Laurence Tosi is stepping down from his position as chief financial officer and an IPO won't happen this year.
According to a statement, Belinda Johnson will assume the role of chief operating officer, while Tosi, who held the position since 2015, will dedicate his work to his investment fund, Weston Capital Partners.
“The COO is one of the most critical positions in any company,” Chesky says. “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 COO, Johnson “will be responsible for the systems and teams that enable our businesses to function, as well as our legal, policy and communications teams,” and also serve as a “partner” to the CEO.
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Chesky directly addressed what the changes mean for the company’s soon-rumored IPO, saying, “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.”
The appointment comes following changes to Airbnb’s board, with outgoing American Express CFO Ken Chenault joining as of last week’s announcement, another moved designed to bring the home share giant into its next incarnation.
“From my first day at Airbnb, I have been inspired by our community and I’m honored to have this new role,” Johnson says.
“We want to be the world’s most innovative and most trusted travel company and to get there, we need to scale our operations and build for the long haul. As Brian has said, we are a company with an infinite time horizon, and I will work to ensure everything we do takes the long view.”
Read the full statement here.