Facebook's Historic Exec Reshuffle Creates Blockchain Unit

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Facebook on Tuesday internally announced the largest executive reshuffle in its history, Recode reports. The move led to the creation of a new blockchain division meant to explore the emerging technology under the leadership of David Marcus, the company veteran who up until now led its Messenger team and has already announced his role change on Facebook. The reorganization is meant to improve communication among executives and user privacy, in addition to streamlining some of the company's existing structure with a new product and engineering setup which will now number three units – The Family of Apps, New Platforms and Infra(structure), and Central Product Services.

The apps division will be overseen by Chief Product Officer Chris Cox who's been promoted after leading the main Facebook app and will now coordinate Facebook, Messenger, Instagram, and WhatsApp. Mr. Marcus's blockchain team will be part of the New Platforms and Infra group helmed by Chief Technology Officer Mike Schroepfer which also includes AR/VR, AI, and a team dedicated to privacy, engineering, and infrastructure. The Central Product Services group will encompass every other major business aspect of the Menlo Park, California-based tech giant, including ads, analytics, and growth. Facebook Growth VP Javier Olivan will be leading that division, whereas News Feed chief Adam Mosseri is now going to Instagram to become its Product VP where he will replace Kevin Weil who's heading in the opposite direction, being set to join Facebook's new blockchain group.

Communications chief Caryn Marooney is delegating some of her work to ex-Uber PR head Rachel Whetstone who reportedly climbed Facebook ranks in a rapid manner since joining the firm last summer and is already said to be influencing policy decisions at the company. The digital juggernaut has yet to confirm its historic management reshuffle, having most recently only disclosed that it's adding Jeff Zients, Chief Executive Officer of holding company Cranemere, to its board of directors, effective May 31. Facebook is still in the process of doing damage control in the aftermath of the Cambridge Analytica scandal and preparing for the incoming arrival of Europe's toughest data protection regulation to date.

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