Yelp Announces New CFO and Adds New Board Member
“David brings a strong track record of driving results and accelerating growth, and we are thrilled to welcome him to our team,” said Jeremy Stoppelman, Co-Founder and Chief Executive Officer of Yelp. “David played a key role in the growth of eBay’s North America Marketplaces business to more than $30 billion in Gross Merchandise Volume and we believe his experience with scaling businesses will serve the company and our shareholders well. With David’s appointment, we have a strong management team in place to continue the execution of our strategy to drive revenue growth and continued margin expansion.”
Mr. Schwarzbach joins Yelp from Optimizely, where he most recently served as Chief Operating Officer and Chief Financial Officer. He is a seasoned finance expert who brings extensive experience in driving growth at consumer data and marketplace companies. He will be replacing James Miln, who has been serving as interim CFO since September 2019. Mr. Miln will resume his role leading Financial Planning and Analysis at Yelp.
“I am excited to step into the CFO role at Yelp to help the company continue executing its strategic plan, accelerate growth and deliver value to shareholders,” said Mr. Schwarzbach. “I look forward to working with the entire Yelp team to build on the company’s momentum and strong business fundamentals.”
Speaking to the appointment of Ms. Barone to the Board of Directors, Diane Irvine, Chair of the Yelp Board said, “Christine brings valuable and complementary skills and expertise to our Board, and we are very excited to welcome her. With Restaurants a critical category for Yelp, having the perspective and operating experience of the CEO of a fast-growing restaurant brand will be extremely beneficial. Christine also shares our commitment to innovation and development, as well as delivering the highest quality products and services to customers. On behalf of the Board, I’d also like to thank Mariam for her years of service to Yelp; we wish her well.”
Ms. Barone replaces Mariam Naficy, who stepped down after six years as a Director of the Yelp Board, effective February 8. Ms. Barone will serve as a member of the Nominating and Corporate Governance Committee.
Ms. Barone said, “Yelp has staked out a key role in the landscape of local business, including restaurants, and I look forward to working with the talented members of the Yelp Board to help the company create value for its customers and its shareholders.”
Yelp today separately announced its fourth quarter and full year 2019 financial results and will host a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss the results.