Facebook's Chief Accounting Officer David Spillane Is Leaving
He'll be replaced by Jas Athwal.
Spillane made news in November when he was one of the Facebook execs to sell off millions of dollars worth of stock. He sold 256,000 shares then, more than half of his vested shares, for $5.4 million. In January, he sold 60,000 shares for $1.6 million. As of April 15, he still owned about 160,000 shares, according to documents filed with the SEC.
Facebook says that Spillane tendered his resignation on April 25 and gave no reason for his departure.
Facebook today reported mixed results in its earnings: a beat on revenues and a miss on profits: Revenue was $1.46 billion vs $1.44 expected and EPS: $0.12 vs $0.13 expected.
Here's what Facebook said to the SEC about Spillane and Athwal:
On April 25, 2013, David M. Spillane, the Chief Accounting Officer of Facebook, communicated his intention to leave the company, and Jas Athwal was appointed to the role of Chief Accounting Officer of Facebook. Mr. Athwal’s appointment will be effective May 10, 2013.
Mr. Athwal has served as Facebook’s revenue controller since he joined the company in 2008. Mr. Athwal holds a B.S. in Business Administration, with a concentration in accounting, from San Jose State University.