Facebook undergoes a huge executive reshuffle

Ruben Fields
May 9, 2018

Facebook is shaking up its executive ranks - and betting on the technology behind bitcoin. As part of that reshuffle, David Marcus - the head of Facebook's Messenger division - will lead a newly-created team that will explore how the company can integrate blockchain technology into its product suite.

Social media conglomerate Facebook has announced that it is establishing a new blockchain research team, and it will be led by a member of the Coinbase board of directors: David Marcus.

Chris Daniels of Facebook's Internet.org will be taking over WhatsApp after CEO Jan Koum announced he was leaving last week. At Facebook, the technology could be used in payments, gaming, the creation of digital art, and the swapping of collectible items - all applications for the blockchain that are now being explored by the tech industry.

Will Cathcart, a VP at Facebook, will run the core Facebook app.

The company has been reorganized into three main groups: "Family of Apps", which encompasses Instagram, Facebook's core app, Messenger and WhatsApp; "New Platforms and Infrastructure", which cover AI, AR/VR, blockchain and engineering teams; and "Central Product Services", which will handle ads, analytics and product management teams.

Facebook confirmed the answer to Week Facts yet did not share any remarks to Recode's report.

Explosions heard near Syrian capital, hours after Trump rips up Iran agreement
The US assessment now is that Iran could initially strike in retaliation against Israel for its airstrikes inside Syria. Syrian army official, however, says air defences have intercepted two Israeli missiles and there are no casualties.

With this sweeping restructuring, Facebook may be trying to pave the way for new products while ensuring more nimble management of its most established services.

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

Marcus stays to the board supervisors of Coinbase, a market to get cryptocurrency (which employs the block-chain as its underlying technology), also joined Facebook from pay pal in 2014.

"I'm setting up a small group to explore how to best leverage Blockchain across Facebook, starting from scratch", Marcus wrote in a post published to his Facebook page.

"After almost four unbelievably rewarding years leading Messenger, I have decided it was time for me to take on a new challenge, "Marcus wrote in a Facebook post". "Jeff's experience will help us navigate the challenges we face".

Other reports by

Discuss This Article