Facebook Stock Dips in After-Hours Trading After Latest Executive Departures

Facebook Stock Dips in After-Hours Trading After Latest Executive Departures

Media reports cite sources inside Facebook who said the new privacy focus was partially why Cox chose to leave. Facebook's leadership was reshuffled last March when Cox was given charge of all of Facebook's apps including Instagram, WhatsApp, Messenger, and Facebook app.

"This will be a big project and we will need leaders who are excited to see the new direction through", he wrote.

Chris Daniels, who took charge of WhatsApp after the founders' departure previous year, is also leaving the company.

In his blog post, Zuckerberg said that Cox had told him several years ago that he planned to move on, but that Cox chose to hold off on leaving until the company made more progress combating misinformation and Russian interference - controversies that erupted in the wake of the 2016 election.

Jan Koum and Brian Acton, co-founders of WhatsApp, have also quit to pursue other ventures, as Zuckerberg plans to merge all its apps into one unified experience.

EMarketer analyst Jasmine Enberg said that "whenever there is a shift in strategy, it's not unusual to see some personnel changes".

Differences over new single integrated privacy focused platform: The departures reportedly stemmed from Zuckerberg's recently announced plan to integrate Facebook, Instagram, and WhatsApp into a single privacy-focused platform. And growing viewership and advertising on videos are of growing importance to both the Facebook and WhatsApp apps.

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The spokesperson assured that they will continue selling cars in Eastern Europe and in Russian Federation . Executives said that they were "working to find alternative opportunities" for all affected staff.

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. In his own Facebook post Thursday, he said the company will forever be a part of his life.

Perhaps more than anyone else at Facebook - even more than COO Sheryl Sandberg - Cox was a sounding board for Zuckerberg on product ideas. "At the same time, as we embark on this new chapter, Chris Daniels has also made a decision to leave the company".

Zuckerberg said Cox's departure creates opportunities for leaders who are energized about the path ahead.

A WhatsApp spokesman declined to comment on Daniels' departure or make him available for comment.

Mr Daniels, meanwhile, started as head of Whatsapp after five years of running Internet.org, an initiative to boost internet connectivity around the world.

Zuckerberg still has a number of long-time product and engineering lieutenants.

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