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Airbnb announced a shakeup to its executive team: Chief financial officer Laurence “L.T.” Tosi has stepped down from the company while longtime deputy, chief business affairs and legal officer Belinda Johnson has been promoted to COO.
Tosi worked as CFO of Blackstone since 2008 before joining Airbnb in 2015. Recently, however, rumors of tensions between Tosi and Airbnb CEO Brian Chesky surfaced as the two clashed over Chesky’s ideas and Tosi’s ambitions for the COO role. Following his departure, Tosi will devote his full time to his investment fund, Weston Capital Partners, as well as multiple external boards he sits on.
“The two and half years I’ve spent at Airbnb have been some of the most thrilling of my career,” Tosi said in a statement. “We achieved much of what I set out to accomplish when I joined. Working together with my colleagues, we have achieved incredible success: today, Airbnb is profitable, and continues to...