Tech

Facebook trying to steady ship after losing 6 key execs in 2018

Facebook trying to steady ship after losing 6 key execs in 2018

Facebook is reportedly trying to steady its ship after it lost six key executives over the past year, following the departure of Instagram co-founders, Kevin Systrom and Mike Krieger.

It means CEO Mark Zuckerberg is without critical talent at a time when Facebook is trying to get back on its feet following a series of disastrous body blows.

For years, Facebook’s top bench of executives has been a vision of stability. Not anymore.

The abrupt resignations of Instagram co-founders, Kevin Systrom and Mike Krieger, on Monday, contributed to a growing sense that the serenity around Mark Zuckerberg is becoming a hot mess.

Read also: Ex-Google CEO Schmidt predicts internet will split in 2 by 2028

They are the fifth and sixth major names to leave Facebook since September last year. Here’s the full list in chronological order: September 2017: WhatsApp co-founder Brian Acton, April 2018: WhatsApp co-founder Jan Koum, June 2018: VP of Communications and Public Policy, Elliot Schrage, August 2018: Chief Security Officer Alex Stamos, September 2018: Instagram co-founders, Kevin Systrom and Mike Krieger.

It comes just months after Recode published a detailed analysis on how no one leaves Facebook, and that the company’s top team has overcome controversy and reshuffles to stick around longer than the average tech CEO in the S&P 500.

All have quit for different reasons. But it stacks up to the same problem: Zuckerberg is losing critical talent at a time when Facebook is trying to get back on its feet following a series of disastrous body blows.

Zuckerberg is reeling from issues bothering his platform including data breaches, fake news, hate speech, inappropriate content, and election interference, all of which played a part in a disastrous second quarter for Facebook, wiping around $120 billion of its value in a single day of trading.

 

 

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