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Facebook just lost two top executives


Facebook just lost two of its top executives, with Instagram co-founders Kevin Systrom and Mike Krieger announcing their departures.

They join at least seven senior Facebook executives who have announced their departures this year.

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“Kevin and Mike are extraordinary product leaders and Instagram reflects their combined creative talents,” Facebook CEO Mark Zuckerberg said in a statement. “I’ve learned a lot working with them for the past six years and have really enjoyed it. I wish them all the best and I’m looking forward to seeing what they build next.”

The departures come at a tumultuous time for Facebook, as it continues to lose senior executives. The company — which calls its top ranks a family and prides itself on keeping executives around — has been battling privacy scandals and declining community support.

Instagram had become something of Facebook’s shining star, so the simultaneous exits of its two founders leave some big shoes to fill.

Here are some other Facebook executives who have said they’re leaving so far in 2018:
Jan Koum, co-founder of Facebook-owned WhatsApp, announced his exit in April in a Facebook post saying it was time to “move on.”

“I’ve been blessed to work with such an incredibly small team,” Koum said in a statement at the time. “The team is stronger than ever and it’ll continue to do amazing things. I’m taking some time off to do things I enjoy outside of technology, such as collecting rare air-cooled Porsches, working on my cars and playing ultimate frisbee.”

Koum led WhatsApp for nearly a decade and joined Facebook’s leadership team in 2014 when the social media giant bought WhatsApp for $19 billion.

Elliot Schrage, head of communications and public policy, said in June he was leaving Facebook after more than 10 years.

“I’ve decided it’s time to start a new chapter in my life,” Schrage said in a post to his Facebook page. “Leading policy and communications for hyper growth technology companies is a joy — but it’s also intense and leaves little room for much else.”

Schrage didn’t address his next steps, but did include lengthy praise and words of gratitude for Facebook, Zuckerbergand COO Sheryl Sandberg.

In July, Colin Stretch, Facebook’s top lawyer, announced he’d be leaving the company after more than eight years.

“When my wife Alyse and I made the decision a few years ago to move back to DC from California, we knew it would be difficult for me to remain in this role indefinitely,” he said in a Facebook post. “As Facebook embraces the broader responsibility Mark has discussed in recent months, I’ve concluded that the company and the Legal team need sustained leadership in Menlo Park.”

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As general counsel, Stretch represented Facebook before Congress to address Russian interference in the 2016 presidential election.

“I often stop myself and ask how I got so lucky to be a part of this,” Stretch said in the post announcing his exit.


(Source: CNBC)