Facebook names former Genentech CFO Ebersman as its CFO

In what looks to be a solid step toward an initial public offering, Facebook named a new CFO today. David Ebersman, former Genentech CFO, will take the same role with Facebook in September.

The company said earlier this year that it wanted a finance chief with public company experience. Ebersman's 15 years at Genentech will help him guide Facebook to becoming a public company. He was available because earlier this year, Genentech was purchased by Hoffmann-La Roche, which also has a CFO. Ebersman, who said he is "excited to join this effort and this new industry," was also likely looking for a new CFO challenge.