Airbnb CFO Laurence Tosi is out

Airbnb CFO Laurence Tosi is leaving the company, Airbnb announced today. This comes shortly after The Information reported there were some tensions brewing between Brian Chesky and Tosi over the future of the company.

In a blog post, Airbnb said Tosi “has decided to dedicate his full time and energy to his investment fund, Weston Capital Partners, and dedicate time to the several external boards he currently sits on.”

With Tosi out, Airbnb Head of Financial Planning and Analysis Ellie Mertz will serve as the interim CFO, Recode reports. Meanwhile, Airbnb is promoting Belinda Johnson, its now former chief business affairs and legal officer, to the role of chief operating officer.

“The COO is one of the most critical positions in any company,” Chesky said in the blog post. “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.”

Airbnb’s leadership and board levels have undergone quite the overhaul recently. Just last week, Airbnb appointed American Express CEO Kenneth Chenault to its board of directors. Chenault is the first black person to serve on Airbnb’s board.

Annually, Airbnb brings in billions of dollars in revenue, is profitable on an EBITDA basis and has more than $5.5 billion on its balance sheet. While it may seem like the right time to go public, Chesky said that’s not going to happen this year.

“We are not going public in 2018,” he said. “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.”

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