At the beginning of this week, two of the co-founders for the popular social media application Instagram had announced their plans to resign from the company within the coming weeks. Mr. Krieger is the Chief Technical Officer, and Mr. Systrom is the Chief Executive that will be stepping down.
It is always interesting to see what happens when individuals from major tech firms or social media empires step down because these companies are still novel in practice and interesting to follow. Not surprisingly enough, these two executives claimed that they are “…planning on taking some time off to explore our curiosity and creativity again.” It is important to highlight that Facebook had purchased Instagram a few years ago for $1 billion, so Instagram has fallen under the greater umbrella of Facebook. If you pay attention to the news in the slightest bit, you would be able to recall that Facebook has been having some pertinent issues with their handling of users’ data and “fake news.”
As a result, Facebook has been struggling over the past few months, and the company even cited slowdowns in their revenue and advertising streams as a result. What makes this departure semi-surprising now is that a recent board member had also left Facebook in April- of course, amid questions of Facebook and its handling of data. With Krieger and Systrom officially out of the picture, it will be critical of Facebook to bring in the perfect set of individuals to fill the position.