Pinterest named its first-ever chief financial officer, and he comes to the social network by way of Twitter.
Yoree Koh of The Wall Street Journal reported that Twitter vice president of finance Todd Morgenfeld will leave that company after about a year-and-a-half to assume the CFO role at Pinterest.
Pinterest CEO Ben Silbermann said in an interview with Koh that current Pinterest head of finance Natalie Fair “is looking at other opportunities within the company,” and he shot down speculation that the hiring of Morgenfeld signaled an impending initial public offering, saying that the move “reflects that we’re scaling the business up,” and adding, “We’re really excited to bring on Todd.”
Silbermann echoed those thoughts in an emailed statement to SocialTimes:
We are excited that Todd is joining Pinterest as CFO. Todd brings to the company a wide range of experience, from HP to the military to a fast-paced environment like Twitter. He believes in our mission and the strong business opportunity it presents. We are committed to building our company for the long term and thrilled that Todd will be an integral part of continuing this growth.
Pinterest’s finance team is made up of about 40 people, Koh reported.
Readers: What are your thoughts on Pinterest’s new CFO?
Image courtesy of Todd Morgenfeld’s LinkedIn profile.