Facebook witnesses its biggest ever management reshuffle, launches blockchain division

Facebook witnesses its biggest ever management reshuffle, launches blockchain division

Facebook witnesses its biggest ever management reshuffle, launches blockchain division

Facebook itself, Instagram, WhatsApp, and Messenger all fall into the first category - they're the core, consumer-facing smartphone apps that Facebook offers.

Facebook is also researching future applications of blockchain technology, with a small unit of employees dedicated to the tech.

The third new division, called Central Product Services, will be overseen by Javier Olivan, now the company's VP of growth. Recode has a big report out with lots of the key details, and some Facebook execs are sharing info on Twitter. That team will be lead by David Marcus, formerly the head of Facebook Messenger. A spokesperson for Facebook confirmed the moves to CNN.

The apps division includes Instagram, WhatsApp, Messenger and Facebook's flagship service. He also departed Facebook, leaving almost $1 billion in unvested stock on the table.

Facebook will now operate under several branches: a "family of programs" team (such as Facebook, Insta-gram, whats app and Messenger), a brand new platforms branch (which includes a block-chain technology group, augmented and digital truth, venture engineering and artificial intelligence) and a "fundamental product companies" group, that covers shared resources like adverts, data analytics and safety. In March, The New York Times and The Observer of London reported that a political consulting firm, Cambridge Analytica, had also misused the information of millions of Facebook users, leading to an outcry.

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Marcus didn't reveal the type of applications for blockchain that he'll be working on At Facebook. The third will be centered on ads, personnel, security and growth.

"This is an important time for Facebook as we take a broader view of our responsibility, and Jeff's experience will help us navigate the challenges we face", said Zuckerberg.

Facebook separately introduced on Tuesday that it added Jeff Zients, the CEO of Cranemere, into the board.

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 company also announced today that Jeff Zients, the CEO of Cranemere, a holding company for businesses in the USA and Europe, has been appointed to Facebook's board of directors.

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