May 26, 2019 News Magazine

Airbnb adds former Apple retail chief Angela Ahrendts to board

Airbnb has made yet another addition to its board of directors as it inches toward an initial public offering, expected in the next year.

Angela Ahrendts, the former senior vice president of retail at Apple, joins as its third independent non-affiliated board member. Ahrendts joined Apple in 2014 after serving as CEO of the British fashion house Burberry for eight years. Apple earlier this year announced Ahrendts would step down in April to be replaced by the company’s HR head, Deirdre O’Brien.

Airbnb in August tapped Ann Mather, the former Disney and Pixar executive, to join its board. Mather represented the first female addition to its all-male board. In January 2018, the home-sharing giant added Ken Chenault, the former chief executive officer of American Express, to its board.

Airbnb’s long-term ambitions include building an end-to-end travel platform, complete with home sharing, hotel booking, business travel arrangements, experiences and more. Ahrendts’ experience at both Burberry and Apple, where she helped lead the businesses in periods of global growth, will come in handy as Airbnb begins making its big pitch to potential shareholders.

Airbnb was valued at $31 billion in 2017, with a $1 billion round. In January, Airbnb said it was profitable for the second consecutive year on an EBITDA (earnings before interest, taxes, depreciation and amortization) basis.


Source: TechCrunch

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