June 16, 2012 (TSR) – Facebook’s Chief Technology Officer (CTO) Bred Taylor announced on Friday that he will leave the social networking giant later this summer to start another company.
“While a transition like this is never easy, I’m extremely confident in the teams and leadership we have in place,” said Taylor in a blog post on his Facebook page.
According to technology news website AllThingsD, a pair of Facebook executives under Taylor will respectively take over Facebook’s platform and mobile efforts that Taylor has been in charge of.
In the wake of intense media and investor scrutiny over Facebook’s rocky IPO last month, his departure could possibly be perceived as a disruption to the company, Taylor told AllThingsD.
“I had always been upfront with Mark (Zuckerberg) that I eventually wanted to do another start-up,” he said.
Taylor said he and Zuckerberg, Facebook’s chief executive officer, felt now it is the best time after Facebook held its IPO and launched new products like App Center and its integration into Apple’s latest iOS mobile platform.
Taylor, who previously worked at Google, co-founded social network site FriendFeed in 2007. FriendFeed was acquired by Facebook for an estimated 50 million U.S. dollars in 2009, and Taylor was promoted as Facebook’s CTO in 2010.
Earlier this week, Taylor took stage at Apple’s Worldwide Developers Conference for the announcement of Facebook’s integration into the iOS 6.
Facebook stocks rose more than six percent on Friday, closing at 30.01 dollars per share — but still 21 percent below the IPO price of 38 dollars.
Meanwhile. documents made public by the U.S. Securities and Exchange Commission (SEC) on Friday showed that the SEC pressed Facebook in February to explain in greater details how a user shift to mobile devices could impact the company.
Also on Friday, Facebook filed a joint motion along with its underwriters, requesting to move the class-action lawsuits against them to a federal court in New York.
Claiming that the company itself and its underwriters did nothing wrong, Facebook pointed out in its filing that it was the Nasdaq stock exchange’s technical problems and other trading- related errors affecting Facebook stocks, which Nasdaq has subsequently admitted, that created market uncertainty and caused investor losses.