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Bret Taylor to quit Facebook; to start a new company

Last Updated: Saturday, June 16, 2012 - 12:30

Washington: Social network giant Facebook's chief technology officer Bret Taylor has announced he will be leaving the company in the coming weeks to start a new firm.

Taylor said he was 'sad to be leaving, but excited to be starting his new company'.

"While a transition like this is never easy, I'm extremely confident in the teams and leadership we have in place," the BBC quoted him, as saying.

Taylor said he was proud of the site's recent developments, including its Facebook Camera and integration with Apple products.

According to the report, Facebook founder Mark Zuckerberg said he had enjoyed working with Taylor and was 'grateful for all he has done for Facebook and proud of what he and his teams have built'.

Meanwhile, Facebook shares have fallen sharply since the flotation to 30 dollars, 21 percent down on the launch price of 38 dollars.

The company is also being sued by disgruntled shareholders, who claim that Facebook's revised growth figures were not disclosed to all investors prior to the flotation.


First Published: Saturday, June 16, 2012 - 12:30
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