Facebook launches blockchain unit amid shake up
The shake-up appears to consolidate power at the internet company, gives more responsibility to chief product officer, but includes no firings or outside hires and does not change the role of either Zuckerberg or Chief Operating Officer Sheryl Sandberg
Facebook Inc Chief Executive Mark Zuckerberg on Tuesday ordered one of the biggest management shake-ups in the history of the social network, giving more responsibility to his chief product officer and launching a blockchain division.
The shake-up 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.
Chris Cox, the chief product officer in charge of the flagship Facebook service, will now also oversee the widely used services Instagram, Messenger and WhatsApp, the company said.
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 centralised 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 shake-up.