Meta Gets New CFO as David Wehner Moves to Chief Strategy Officer Role

• Meta CFO David Wehner will take on a new role as the company's first chief strategy officer, starting Nov. 1
• Susan Li, Meta's current vice president of finance, will be the Facebook parent's new chief financial officer.

Meta CFO David Wehner will take on a new role as the company's first chief strategy officer, starting Nov. 1, according to the company's second-quarter earnings report. Susan Li, Meta's current vice president of finance, will be the Facebook parent's new chief financial officer

Shares of Meta dropped slightly in after-hours trading, as the company reported an earnings miss and steeper-than-expected revenue declines. Shares have lost about half their value since the beginning of the year, underscoring investor concern about the health of the company's core online advertising business. 

Wehner will oversee the company's strategy and corporate development in his new role.

Also on CNBC

• Meta reports earnings miss and steeper-than-expected revenue drop
• Qualcomm sales rise 37% despite 'challenging macroeconomic environment'
• Google delays cookie-cutting to 2024

Subscribe to the CNBC YouTube Channel

Morning Squawk Newsletter