David Marcus, the head of Facebook Messenger, is stepping down to build a new team inside the company focused on blockchain, a digital public ledger used to record transactions for cryptocurrencies. Marcus, who was the CEO of PayPal before joining Facebook, wrote in a post Tuesday that he would set up a “small group” to “explore how to best leverage blockchain across Facebook.”
Chris Daniels, who ran Facebook’s affordable internet initiative, is taking over WhatsApp after its previous CEO, Jan Koum, announced plans to leave the company last month. Will Cathcart, a VP at Facebook, will run the core Facebook app.
The executives in charge of these apps, along with Instagram, will now report to Chris Cox, who is running a new unit called “Family of apps.” Cox is a a longtime Facebook employee and friend of CEO Mark Zuckerberg, Recode was first to report the changes.
A spokesperson for Facebook confirmed the moves to CNN. Related: WhatsApp CEO to leave Facebook 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. Read more from money.cnn.com…
thumbnail courtesy of cnn.com