Facebook is building a new team that will focus on blockchain

Cesar Mills
May 9, 2018

Marcus was previously the head of Facebook's messaging app Messenger.

Facebook confirmed Tuesday that it is shuffling the executives in charge of its most popular applications and shifting some top talent to work on new ventures like blockchain.

The third group, "Central Product Services", will be led by growth VP Javier Olivan.

Facebook is undergoing one of the biggest executive reshuffles in its history, the company announced internally today, Recode reports. A spokesperson for Facebook confirmed the moves to CNN.

"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, "I'm setting up a small group to explore how to best leverage Blockchain across Facebook, starting from scratch".

Meanhwhile, Facebook has attempted to keep its promotion income becoming through more up to date, more youthful stages like WhatsApp and Instagram.

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

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Koum said in a post on his Facebook page that he is taking time off to pursue interests such as collecting air-cooled Porsches, working on cars and playing ultimate Frisbee.

The exploratory blockchain gathering will be driven by David Marcus, the executive most as of late responsible for Facebook's Messenger gathering. Andrew Bosworth will oversee AR and VR, while Jerome Pesenti is leading AI. Those three sections are being led by Mark Rabkin, Alex Schultz, and Naomi Gleit respectively.

Facebook on Tuesday announced the appointment of Jeff Zients, CEO of Cranemere, to the company's board of directors and audit committee, effective May 31.

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.

In a statement posted to his Facebook profile, Zuckerberg praised Zients as a "rare expert in both business and public polcy", and that "Jeff's experience will help us navigate the challenges we face".

Facebook now will organize its product and engineering teams under three new categories. The 33-year-old CEO did not address the broader restructuring.

Other reports by GizPress

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