Facebook Shuffles Management Team
May 08 2018 - 7:17PM
Dow Jones News
By Deepa Seetharaman
Facebook Inc. is overhauling its management structure in one of
the biggest makeovers in the company's 14-year history.
In arguably the most significant move, Facebook put longtime
executive Chris Cox in charge of Facebook, Instagram, WhatsApp and
Messenger in an effort that will integrate its high-profile
acquisitions more deeply into the larger company.
The executive shuffle, announced internally Tuesday, doesn't
affect the responsibilities of Chief Operating Officer Sheryl
Sandberg, the company's No. 2 executive. A Facebook spokeswoman
confirmed the changes, which were first reported by tech news site
Recode and go into effective immediately.
One former Facebook executive said the moves appeared to be
designed to surround CEO Mark Zuckerberg with his most trusted
executives as the company faces a range of new challenges.
"This reads like Mark putting his people back in charge.
Virtually all of these people are seen as people that Mark believes
are technically proficient and understand his vision," the
executive said.
The changes come as the social-media giant grapples with
challenges on multiple fronts, including scrutiny over its handling
of user data and its ability to prevent foreign interference in
elections. The moves give additional responsibilities to several
longtime Facebook executives who have been with the company since
before it went public in 2012.
Facebook's product and engineering divisions will now be carved
up into three main divisions, including one group called "Family of
Apps" that will be run by Mr. Cox, who is currently chief product
officer of the main Facebook app and has been with the company
since 2005. Mr. Cox's purview will now include the photo- and
video-sharing app Instagram as well as Facebook's two chat apps,
Messenger and WhatsApp. WhatsApp co-founder Jan Koum said last week
he would leave the company, four years after Facebook bought his
encrypted-messaging app for $22 billion.
A second major division will be called "New Platforms and
Infra," to be led by Mike Schroepfer, Facebook's chief technical
officer. This group will tackle new technologies and products,
including a new blockchain group to be led by David Marcus, who
currently runs the Facebook Messenger chat app.
The third unit is called "Central Product Services" and will be
run by longtime growth executive Javier Olivan. Mr. Olivan's group
will oversee product and engineering efforts for ads, security and
growth.
Write to Deepa Seetharaman at Deepa.Seetharaman@wsj.com
(END) Dow Jones Newswires
May 08, 2018 19:02 ET (23:02 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Meta Platforms (NASDAQ:META)
Historical Stock Chart
From Mar 2024 to Apr 2024
Meta Platforms (NASDAQ:META)
Historical Stock Chart
From Apr 2023 to Apr 2024