Friday, 22 March, 2019

Facebook faces more executive departures

Two top Facebook executives are leaving the company and it's not clear what they're moving on to Richard Drew Two top Facebook executives are leaving the company and it's not clear what they're moving on to
Russell Knight | 15 March, 2019, 12:40

A long-time Zuckerberg confidante, Cox's departure timing suggests he may not have been on board with the new corporate vision.

Reversing course, Facebook will not appoint a direct replacement for Cox.

Zuckerberg also announced another departure - Chris Daniels, who had been overseeing Facebook's encrypted messaging service WhatsApp.

"This is an important change as we begin the next chapter of our work building the privacy-focused social foundation of the future", Facebook CEO Mark Zuckerberg wrote in a statement. The company announced it's planning to shift its focus towards privacy and protecting users' information, something it has failed to do in recent times.

Cox joined 13 years ago and helped create Facebook's News Feed feature.

In his blog post, Zuckerberg said that Cox had told him that he planned to move on several years ago, but that Cox chose to hold off on leaving until the company made more progress combating misinformation and Russian meddling - controversies that erupted in the wake of the 2016 election. He pocketed $310 million in gains from exercising Facebook stock options from 2014 through 2017 alone, according to the company's filings with securities regulators.

Facebook's Chief of Product officer Chris Cox was long one of CEO Mark Zuckerberg's top deputies
SUNDAY ALAMBA APFacebook's Chief of Product officer Chris Cox was long one of CEO Mark Zuckerberg's top deputies

Daniels, meanwhile, headed up WhatsApp since co-founder Jan Koum's departure in April.

Cox and Daniels are among a string of executives who've left Facebook since 2017. Facebook plans to unify Instagram, WhatsApp, and Facebook Messenger in a private platform, in addition to its public component. "This will be a big project and we will need leaders who are excited to see the new direction through".

Daniels has been at Facebook almost nine years, and previously led the company's Internet.org effort, a project aimed at bringing internet access to developing countries.

He said the new head of the Facebook-owned application would be Fidji Simo, who was previously in charge of video, games and monetization at Facebook.

The departures follow the resignations of Instagram founders Kevin Systrom and Mike Krieger and WhatsApp's co-founder Jan Koum past year.

Facebook's social network and Instagram photo app won't change, and will remain available for sharing places, adventures and minutiae with a broader audience.

Gunmen open fire at 2 New Zealand mosques, several killed
A gunman entered a mosque and began shooting with an automatic weapon in New Zealand's city of Christchurch on Friday. The New Zealand Herald reports that the incident took place at a mosque, and that there were numerous casualties.

Oil Prices Increase as US Lowers Crude Production Estimates
An unexpected dip in USA crude oil inventories and production also lifted prices, traders said , Reuters reported . Market shortages have been exacerbated by U.S. sanctions on oil exports by OPEC members Iran and Venezuela .

Facebook blames app outage on a technical error
But by then Facebook's shares fell 1.72 per cent in morning trading on Thursday. "I'm trying to communicate with my team in NY ". The social network said on Thursday that changes to a server configuration were to blame.

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