Facebook's CFO Gideon Yu is leaving the company, as Facebook confirmed on Tuesday.
Yet the departure of Gideon Yu may not be a bad sign, at least for potential investors. It may point to the fact that Facebook is still on track for an IPO.
Facebook said, in a statement:
"Facebook confirms that CFO Gideon Yu will be leaving the company. We are grateful to Gideon for his contributions to Facebook and what we are trying to accomplish.
"Despite the poor economic climate, we are pleased that our financial performance is strong and we are well positioned for the next stage of our growth. We have retained (search firm) Spencer Stuart to lead our search for a new CFO and will be looking for someone with public company experience."
You see the statement "public company experience?" That's where the suspicion lies.
But at the same time, Marketwatch states that Gideon Yu has plenty of public company experience.
That comment seems disingenuous, especially since Gideon Yu's bio, still on the Facebook Web site, describes a vast array of deal making and public company experience as a former treasurer and senior vice president of finance at Yahoo Inc.
So what's the truth? Or is it all politics? We may never know.
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