- Facebook is shaking up its org structure.
- The company will now be comprised of three key areas: New platforms and infrastructure, Central product services, and Family of apps.
- Facebook is also researching future applications of blockchain technology, with a small unit of employees dedicated to the tech.
The social networking giant is undergoing a huge restructuring, switching up its executives and rearranging the company into three core areas. Recode has a big report out with lots of the key details, and some Facebook execs are sharing info on Twitter.
A Facebook spokesperson confirmed the news of the re-organization to Business Insider.
Facebook will now comprise of three key areas: Family of apps, led by chief product officer Chris Cox; New platforms and infrastructure, led by CTO Mike Schroepfer; and Central product services, led by VP of growth Javier Olivan.
The re-organization comes after a bruising year for Facebook. The company has been battered by headlines about its misuse in the spread of Russian propaganda and disinformation, and more recently, the Cambridge Analytica scandal has ignited fears over security and data privacy.
Three big new categories
Facebook itself, Instagram, WhatsApp, and Messenger all fall into the first category -- they're the core, consumer-facing smartphone apps that Facebook offers. After the departure of WhatsApp cofounder Jan Koum, Chris Daniels is taking over the encrypted messaging app, and Stan Chudnovsky is now heading up Messenger.
The second category is some of the more experimental stuff Facebook is working on. Andrew Bosworth is leading AR and VR. Jerome Pesenti is in charge of AI. And David Marcus, formerly the head of Messenger, is taking the helm of a newly announced blockchain unit.
Lastly, central product services is a lot of the core functionality that drives the company: Ads; analytics; integirty, growth, product management. Those three sections are being led by Mark Rabkin, Alex Schultz, and Naomi Gleit respectively.
Facebook is also adding a private equity executive, Cranemere CEO Jeff Zients, to its board of directors.
Facebook's apology tour
CEO Mark Zuckerberg has been on an apology tour in recent months, appearing before US Congress to discuss the company's failings and to promise to take a "broader view" of the company's responsibilities.
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.
Facebook is also adding a new face to its board of directors: Jeff Zients, CEO of private equity firm Cranemere, and former director of the National Economic Council during the Obama years.
In a statement posted to his Facebook profile, Zuckerberg praised Zients as a "rare expert in both business and public policy," and that "Jeff's experience will help us navigate the challenges we face." The 33-year-old CEO did not address the broader restructuring.