Airbnb Chief Monetary Officer Dave Stephenson, who helped information the corporate by way of Covid-19 tumult and an initial public offering, will transition right into a newly created chief enterprise officer function, Airbnb CEO Brian Chesky stated in a Tuesday word to workers seen by CNBC.

Stephenson’s new place is efficient January 2024, the corporate stated. Airbnb’s vice chairman of finance Ellie Mertz will change Stephenson as CFO. Mertz’s transition will happen following Airbnb’s quarterly earnings name in February.

Chesky stated Stephenson’s new function would additionally mark an “inflection level” for Airbnb, the place the enterprise would start to give attention to progress throughout current and new companies.

“As we develop past our core, it will likely be paramount to have an government devoted to our long-term progress plans, and there is no one higher than Dave to do that,” Chesky wrote within the letter.

“As Chief Enterprise Officer, Dave can be throughout all elements of our technique to develop past the core,” Chesky wrote. “This consists of driving worldwide growth, rising world host provide (throughout current and new companies), and main all enterprise and company improvement actions at Airbnb.”

Stephenson has been with the company since 2018. Earlier than becoming a member of Airbnb, Stephenson was finance chief at Amazon’s Worldwide Shopper unit. Stephenson serves on the board of Lyft. Mertz serves on the boards of DoorDash and wholesale market Faire.

Chesky additionally stated that Catherine Powell, a longtime Airbnb government who beforehand held numerous roles at Disney, would initially transfer into an advisory function earlier than leaving Airbnb “later subsequent yr.”

Airbnb was based in 2007 by Chesky, Nathan Blecharczyk and Joe Gebbia.

— CNBC’s Laura Batchelor contributed to this report.

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