Facebook makes major management shakeup, establishes blockchain team

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Facebook itself, Instagram, WhatsApp, and Messenger all fall into the first category - they're the core, consumer-facing smartphone apps that Facebook offers.

Facebook confirmed Tuesday that it is shuffling the executives in charge of its most popular applications and shifting some top talent to work on new ventures like blockchain.

The third new division, called Central Product Services, will be overseen by Javier Olivan, now the company's VP of growth.

Facebook just underwent the biggest executive re-shuffle in its history, Recode reported May 8.

A Facebook spokesperson confirmed the news of the re-organisation to Business Insider.

The report comes as Facebook has confronted aftermath over information protection and "phony news", in the midst of disclosures of information deals to outside firms like Cambridge Analytica, and proof of Russian decision impedance.

The three new Facebook branches are: family of apps, which include Instagram, Messenger, WhatsApp and Facebook's mobile app, led by Chief Product Officer Chris Cox; central product services, which include advertisements, product management and analytics, led by Vice President of Growth Javier Olivan; and new platforms and infrastructure, which include augmented reality and virtual reality, blockchain and data privacy, under Chief Technology Officer Mike Schroepfer.

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Chris Daniels, who has been in charge of a Facebook effort to expand Internet access, will be the head of WhatsApp, succeeding Jan Koum, the WhatsApp co-founder who quit the company last week.

Koum said in a post on his Facebook page that he is taking time off to pursue interests such as collecting air-cooled Porsches, working on cars and playing ultimate Frisbee.

Kevin Weil, head of product at Instagram, is leaving that job to join Facebook's blockchain division, and Adam Mosseri, head of the Facebook News Feed, will succeed Weil at Instagram. Andrew Bosworth is leading AR and VR. The third will be centered on ads, personnel, security and growth.

"This is an important time for Facebook as we take a broader view of our responsibility".

Facebook now will organize its product and engineering teams under three new categories.

Marcus, the now former executive of Facebook's Messenger group, sits on the board of directors of Coinbase. But Facebook CEO Mark Zuckerberg has said that he's investigating how to best use the technology.

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