In the past few months, Facebook has experienced what some have called a Executive Mass Exodus. Top executives including the founders of Instagram have left the company. The company’s CPO Chris Cox also resigned recently. Cox was one of Mark Zuckerburg’s top aides and has been with Facebook since 2005.
In April of 2012 the social media giant acquired Instagram, a picture and video sharing platform, for $1 billion in cash and stock. At that time, that was the biggest acquisition in Facebook’s short history. Only two years later Zuckerburg’s empire took a leap of faith on WhatsApp buying the world’s biggest messaging service for a whopping $19 billion.
Facebook shares have dropped recently, Most are citing growing concerns of regulation and horrifying imagery being uploaded to the site as the main causes for the stock falling and executives exiting.
As of Monday 11 major executives have departed the multi-billion dollar empire, which market experts are saying will most likely spark more departures of key figures in the company. Read more about this developing story here.