Facebook Revenue Chief Fischer to Exit in the Fall

Facebook Chief Revenue Officer David Fischer will leave the social-media giant in the fall.
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Facebook  (FB) - Get Report Chief Revenue Officer David Fischer said on Tuesday that he would be leaving the social-media giant in the fall.

The executive, who joined the Menlo Park, Calif., company in 2010, told employees of his planned departure on Tuesday morning and reported the decision on a verified Facebook profile.

Fischer said he would spend time with family and friends and might travel when it is safe. But he didn't say what he might do next professionally.

"I am immensely proud of all that we have accomplished over the past 11 years and am optimistic about the path the company is on," Fischer said in his statement.

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Fischer worked under Chief Operating Officer Sheryl Sandberg.

He “oversees advertising and marketing efforts for business products and has been heavily involved in some of the social media company’s largest deals,” Bloomberg News said.

In particular, he spearheaded Facebook’s $5.7 billion investment in India’s Jio Platforms, the publication added. He also leads Facebook’s India division, which has a focus on messaging and shopping.

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“I know that the tools we offer and the service we provide have been make-or-break for so many people, and the communities they serve,” he wrote in the post.

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Fischer will help his successor get started in the position, a Facebook spokeswoman told Bloomberg. The company said it would search internally and externally for a new revenue chief.

Prior to Facebook, Fischer worked at  (GOOGL) - Get Report. He also worked at the U.S. Treasury Department in the late 1990s, Bloomberg reported.

At last check Facebook shares were trading 0.7% lower at $288.83.