Facebook sets $6 billion buyback; accounting chief to leave

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

News ID: ۷۷۱۴۴۸

19 November 2016

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, Reuters reported.

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.

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