Facebook announced yesterday (see here) that its CFO, Gideon Yu, had left the company and that Peter Currie would step in as "temporary financial advisor" while the company looked for a replacement CFO.
This is a really strong move by Facebook's Board of Directors to enhance the company's prospects as the financial pressure on the overall sector grows. Peter is one of the top financial executives in the US, having served as CFO of Netscape as it went public and was later sold, and also previously as CFO of McCaw Cellular, one of the pioneers in the wireless space. In addition, he's been on the boards of relevant companies such as Cnet and Sun Microsystems as they have gone through big changes in recent years, plus of course, he's previously been on two of my boards at Listen.com and at Meez, so I'm clearly favorably biased.
Peter is plugged-in enough to truly understand the power of a site like Facebook, cool enough to understand how to deal with a rapidly accelerating, seminal company full of young people, and yet has more than enough Wall Street cred to fully legitimize the company as it goes out to raise more money to fund its growth, and prepare to go public. The only question in my mind is whether FB can persuade him to stay on full time since it couldn't find a better leader.