Facebook shuffles top management, eyes Blockchain

Facebook biggest executive shakeup in its 15 year 952018

"After almost four unbelievably rewarding years leading Messenger, I have decided it was time for me to take on a new challenge", said Marcus on his Facebook page. Some of the long term Facebook executives have been given new responsibilities, including an effort to tackle the challenges from blockchain technology.

Javier Olivan, Facebook's VP of growth, will manage the "Central Product Servces", division.

There are a handful of other executive shuffles detailed in the Recode report, including the news that Chris Daniels, the VP of Facebook's Internet.org group, is taking over WhatsApp. A spokesperson for Facebook confirmed the moves to CNN.

But the sweeping reorganization also comes at a sensitive moment for Facebook.

David Marcus said in a post on the social network that, after four years in charge of Messenger, he is "setting up a small group to explore how best to leverage blockchain across Facebook".

"Facebook is also building a new team dedicated to Blockchain technology". The changes have come at a time the company is facing backlash with regulators in the United States and Europe, following the misuse of its platform by the Russian government and Cambridge Analytica.

On May, 3 CNX Midstream Partners LP (CNXM) Analysts See $0.39 EPS
Bradley Foster And Sargent Ct has 0.7% invested in Magellan Midstream Partners, L.P. (NYSE:MMP) for 270,269 shares. The firm owns, operates, acquires, and develops midstream assets in the Appalachian Basin.11.82 is the P/E ratio.

Marcus didn't reveal the type of applications for blockchain that he'll be working on At Facebook. Andrew Bosworth will oversee AR and VR, while Jerome Pesenti is leading AI.

Lastly, central product services is a lot of the core functionality that drives the company: Ads; analytics; integirty, growth, product management.

Appearing before the US Congress, Facebook CEO Mark Zuckerberg told the lawmakers that his own personal data was part of 87 million users' that was "improperly shared" with the British political consultancy firm Cambridge Analytica which has not shut down operations. But Facebook CEO Mark Zuckerberg has said that he's investigating how to best use the technology.

The former CEO of PayPal, Marcus has always been interested in payments, and he now serves on the board of bitcoin exchange Coinbase.

But Facebook is also attempting to move the conversation forwards, and at its F8 conference last week, the company made clear it doesn't intend to stop announcing new products and features while it fixes past mistakes. The 33-year-old CEO did not address the broader restructuring.

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