Facebook Recruits Former Bebo CEO

Facebook has hired a former Bebo chief executive, named Joanna Shields, to oversee its operations in Europe, as the social networking giant Facebook is looking to turn its enormous popularity into profits.

Joanna Shields, who spearheaded AOL’s $850 million acquisition of Bebo back in 2008, left Elisabeth Murdoch’s Shine production house within just half a year to step into a new role in Facebook.

She will join Facebook as the VP for sales and business development for Europe, Middle East and Africa (EMEA) region. Her prime responsibility will involve transforming Facebook’s massive popularity - the website has more than 400 million users worldwide - into profitable revenue streams.

Though Facebook has managed to surpass Google in terms of number of visits in the US in a week of March, it still significantly lags behind the search giant in terms of revenue figures.

Analysts predict that the social networking site will make somewhere between $1 billion and $1.5 billion in sales this year, which is nominal against $23.7 billion earned by Google last year.

“With its culture of authentic identity, Facebook is redefining marketing and transforming how businesses and consumers interact. It is a privilege to help lead this kind of change for Facebook in EMEA. I can't think of a more important and interesting professional challenge”, Shields said.