Photo: Jim Migdal
Earlier this week, we learned that Facebook heavies Jim Migdal, Jonathan Heiliger were headed for the door – probably to cash in their valuable vested options.We haven’t heard anything official, but we’ve got an idea who the rising stars are that will replace these losses…
- Facebook has already poached an executive named Chris Daniels to replace Migdal as director of business development. Daniels was at Microsoft for a while. His last role was product manager for Bing. A very long time ago, he was an analyst at Lehman Brothers.
- Another riser at Facebook is Vaughan Smith. He keeps getting more and more responsibility – mobile, business development, corporate development, etc. Insiders see him becoming a VP at some point. Smith made a name for himself in the Vally as a corporate development type at eBay.
- A favourite to eventually become VP of tech ops at Facebook – and make everyone forget Jonathan Heliger – is Jay Parikh. That’s the role he held at Facebook board member Marc Andreessen’s startup, Ning, before he joined Facebook as director of engineering back in 2009.
We expect more Facebook execs who joined in 2007 to quit in coming months. But the exits should slow. The reason: 2007 was the year Facebook stopped giving new employees normal options and started giving them restricted stock units. If a Facebook employee has RSU, he or she can’t sell them until six months after the company IPOs, whether or not they are still working there. (If they have plain old options, it’s much easier to quit and sell the things on the private markets.)
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