Facebook insider Adam Mosseri to head Instagram after co-founders’ exit

Facebook Incs Instagram on Monday announced that long-term insider Adam Mosseri will take over as the new head of the photo-sharing app, a week after its co-founders resigned.

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Mosseri, who joined Facebook in 2008, was most recently Instagrams vice president of product. He had previously overseen Facebooks news feed and spent a decade working closely with Facebooks Chief Executive Officer Mark Zuckerberg.

In a blog post, the companys said Mosseri will oversee all functions of the business and will recruit a new executive team.

Co-founders Kevin Systrom and Mike Krieger resigned as chief executive and technical officers, respectively, of Instagram last week, giving a scant explanation for the move.

Their departure from Instagram, Facebooks fastest-growing revenue generator, followed the exit of Jan Koum, co-founder of Facebook-owned messaging app WhatsApp.

Last week, Systrom and Krieger said they planned to take time off and explore their curiosity and creativity again.

Shares of Facebook were down 1.3 percent at $162.35.

Reuters

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