Facebook shakes up management, launches blockchain division
Facebook shakes up management, launches blockchain division. Facebook Chief Executive Mark Zuckerberg on Tuesday ordered one of the biggest management shakeups in the history of the social network, giving more responsibility to his chief product officer and launching a blockchain division.
The shakeup appeared to consolidate power at the sprawling internet company, although it included no firings or outside hires and did not change the role of either Zuckerberg or Chief Operating Officer Sheryl Sandberg. Read more here.
WhatsApp has been given a relatively free hand since 2014, when Facebook bought it for $22 billion, but in recent months its two co-founders have announced their resignations, opening the door to closer integration.
Two other executives, Chief Technology Officer Mike Schroepfer and Vice President of Growth Javier Olivan, will oversee other consolidated divisions, one related to “new platforms and infrastructure” and another for centralized services such as the ads system.
Facebook confirmed the staff moves, which were first reported by the tech news website Recode. The company declined to comment on the reasons behind the shakeup.