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Facebook shares fell after trading hours Thursday, following the announcement of the departure of two company executives.
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In an article on Facebook, Managing Director Mark Zuckerberg announced the resignation of his product manager, Chris Cox. Zuckerberg also announced the departure of Chris Daniels, vice president of the Facebook messaging application WhatsApp.
Facebook shares fell 1.6%, near 167.40, during the trading session after working hours today.
"I'm sad to share the news that Chris Cox has decided to leave the company," wrote Zuckerberg on Facebook. "Chris and I have been working closely together to build our products for over ten years and I will always appreciate his deep empathy for the users of our services and the inspiring spirit that he brings to all that It does. "
Hire early for Facebook
Cox was one of Facebook's first recruits as an engineer. He eventually worked on several key products, including News Feed. Most recently, he oversaw the strategy of all Facebook applications.
Announcing Daniels' departure, Zuckerberg said, "Chris has also done a great job in many roles, including managing our business development team, including Internet.org, which has helped more than 100 million people gain access. WhatsApp, where he helped define the business model of our messaging services for years to come. "
Will Cathcart, Vice President of Product Management, will succeed Daniels at WhatsApp. Facebook has not appointed a replacement for Cox.
The resignations took place a day after the New York Times announced that Facebook was under criminal investigation by federal prosecutors for data transactions with electronics manufacturers. Staff moves also come a day after Facebook stocks have been down for much of Wednesday due to server-related maintenance issues.
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