Technology Other News 20 Nov 2016 Facebook sets $6 bil ...

Facebook sets $6 billion buyback; accounting chief to leave

REUTERS
Published Nov 20, 2016, 3:02 pm IST
Updated Nov 20, 2016, 3:03 pm IST
Facebook's shares were up 1.1 percent at $118.24 in after-hours trading. The company had a market value of about $337 billion at close
The company also said Chief Accounting Officer Jas Athwal had resigned, effective Feb. 17.
 The company also said Chief Accounting Officer Jas Athwal had resigned, effective Feb. 17.

Social media giant Facebook Inc (FB.O) on Friday set a $6 billion buyback program for its Class A shares, beginning in the first quarter of 2017.

Facebook's shares were up 1.1 percent at $118.24 in after-hours trading. The company had a market value of about $337 billion at close.

 

The company also said Chief Accounting Officer Jas Athwal had resigned, effective Feb. 17.

Athwal has spent nearly nine years at the company and was formerly the director of revenue at Yahoo Inc (YHOO.O).

The company said it planned to launch a search for a replacement.

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