Facebook's Chief Product Officer To Leave Company

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Facebook Inc. FB, -1.85% Chief Product Officer Chris Cox and the head of the WhatsApp division have decided to leave the company as it focuses on private communications, Chief Executive Mark Zuckerberg announced Thursday afternoon. Chris Cox and VP of WhatsApp Chris Daniels are leaving "as we organize our company to build out the privacy-focused social platform I discussed in my note last week," Zuckerberg wrote in a blog post that published immediately after markets closed Thursday afternoon. Cox will not be replaced officially in the near-term, as a reorganization will have the heads of all the major product teams report to Zuckerberg directly. Will Cathcart will take over as head of WhatsApp and Fidji Simo will take over as head of the Facebook app, Zuckerberg said. Javier Olivan, who worked closely with Cox to manage the entire family of apps, will focus on how the different apps should be integrated, Zuckerberg said. Facebook shares fell 1.8% in immediate after-hours trading following the announcement, after declining 1.9% in the regular session.

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