Facebook undergoes major management reshuffle - TechSource International - Leaders in Technology News

Facebook undergoes major management reshuffle

With Jeff Zients, the CEO of Cranemere, joining the BoD.
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Facebook (FB) has brought about some fundamental changes to the organisational structure.

Facebook (FB) has brought about some fundamental changes to the organisational structure.

Facebook has brought about some fundamental changes to the organisational structure. The company confirmed the major reshuffle after evaluating various security aspects and potential privacy loopholes in the wake of the controversy involving UK-based political consulting firm Cambridge Analytica.

According to Associated Press, Mark Zuckerberg remained chief of Facebook. However, Zuckerberg’s close confidant Chris Cox was promoted and put in charge of Facebook's core application as well as smartphone services Instagram, WhatsApp, and Messenger.

Jeff Zients, the CEO of Cranemere, joins Facebook's board.

Jeff Zients, the CEO of Cranemere, joins Facebook's board.

While the majority of the top executives will be either assuming new roles or taking up additional responsibilities, current COO Sheryl Sandberg was excluded from internal restructuring and will continue as Zuckerberg’s second-in-command, the company said.

A new face that has been added to the social media giant’s board of directors is Jeff Zients, the CEO of Cranemere, taking the the number of board members to nine. Zeints has also been appointed to the Audit Committee. Conversely, Susan Desmond-Hellmann will move from the Audit Committee to the Compensation & Governance Committee, and Marc Andreessen will remain on the Audit Committee but step off the Compensation & Governance Committee.

The major management team shakeup that was first reported by Recode also reveals Javier Olivan will be in charge of a "central product services" division handling features such as security and advertisements. Meanwhile, CFO Mike Schroepfer will now be the head of the new created information security and privacy division.