Instagram names Facebook veteran Adam Mosseri as new CEO
New leadership takes over at Instagram
By Shawn Knight,
The big picture: Adam Mosseri is a Facebook veteran that has been under
Zuckerberg's wing for more than a decade. Familiar with the company's
mission, he'll help steer Instagram in the direction Facebook wants to
take it which is reportedly, well, more like Facebook.
Instagram Head of Product Adam Mosseri on Monday was promoted to chief
executive. The development follows last week’s announcement that
co-founders Kevin Systrom and Mike Krieger, CEO and CTO, respectively,
were leaving the photo-sharing social network.
Mosseri, according to his LinkedIn profile, joined Facebook as a product
designer in July 2008, working his way up the corporate ladder over the
years. This past May, the executive transitioned from VP of Product
Management at Facebook to Head of Product at Instagram.
Systrom and Krieger announced the appointment on Instagram’s blog. In
the post, the duo said that in their absence, they hope Instagram keeps
the community front and center in everything it does. “We believe that
Adam will hold true to these values and that Instagram will continue to
thrive,” they added.
The Information predicted Mosseri’s appointment a week ago, just hours
after Systrom and Krieger announced plans to leave. According to the
site, he was brought on to the Instagram team earlier this year as part
of a larger reorganization and was tasked with overseeing product,
growth and analytics.
Systrom and Krieger reportedly decided to leave Instagram due to
Facebook’s increasing involvement in Instagram’s day-to-day activities,
specifically by Facebook CEO Mark Zuckerberg.
Facebook purchased Instagram for $1 billion in 2012 although these days, it’s estimated to be worth more than $100 billion.
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