RSS LinkedIn Google Plus

Call us: 0800 014 9884

Facebook loses its top talent

Facebook_loses_its_top_talent_11521

Bad news comes in threes

Facebook has suffered another three management departures since its IPO in May, causing investors to become increasingly concerned about the future of the social network.

Yesterday, Facebook’s director of platform partnerships Ethan Beard announced his impending departure from the company. Shortly after, platform marketing director Katie Mitic said she would be leaving the social network. To complete the trio, mobile platform marketing manager Jonathan Matus declared that he would also be departing soon.

On his Facebook Timeline, Ethan Beard said: “I’ve had the pleasure of helping build an ecosystem of incredible developers from innovative startups and established companies.” With regards to his future, Beard stated that he would like to start a “new venture”, while Mitic and Matus also suggested that they will start entrepreneurial projects.

Added pressure

The three resignations come at a bad time for the social network. Following the Facebook IPO, which saw shares fall by 45 per cent, the management departures have caused further worry amongst investors. The concern was apparent at the close of yesterday’s trading session as Facebook shares plummeted to an all time low of $20.88 (£13.43).

At a time when revenue growth is slowing, Facebook needs to add products and services to increase interest in the social network. However, the recent loss of key employees alongside the upcoming departure of chief technology officer Bret Taylor has caused investors to fear that a loss of talent could mean that the company loses its innovative edge and becomes stagnant.

Mark Zuckerberg has chosen to promote Justin Osofsky to director of platform partnerships and operations following Beard’s departure. Daniel Nolan, managing director at theEword said: “Zuckerberg’s decision to hire internally should help to calm investors’ growing worries. Promoting Osofsky helps to keep the team tight as the veteran already has a clear understanding of the ethos and goals of the company.”

Written by lauren_knowles_swapLauren Knowles

Testimonials

"theEword soon became an essential extension to our internal online marketing team."

~ Screwfix Bathrooms ~

  Screwfix Bathrooms

"We are extremely happy with the online visibility achieved through SEO and PPC."

~ Pure Student Living ~

  Pure Student Living

"theEword has consistently produced great results; very happy with the service."

~ Parasol ~

  Parasol

"theEword team has excelled itself in terms of client service, campaign measurement and responsiveness."

~ Linder Myers ~

  Linder Myers

View more of our testimonials »

Google acquires Firebase Wednesday 22nd of October, 2014by Dan Moores Google has acquired Firebase, a cloud service company that allows developers to build web and mobile apps quickly and easily, as well as store and sync data in realtime.

More on this story »

Microsoft devises new 'ubiquity' strategy for Bing Monday 27th of October, 2014by Dan Moores In an effort to increase Bing's market share, Microsoft executives have revised the strategy for the company's search engine and its paid ad services.

More on this story »

Twitter withdraws Google Glass support Wednesday 29th of October, 2014by Andy Williams Twitter has quietly announced that it has pulled its app from Google Glass with immediate effect, although a third party developer could step in and fill the gap.

More on this story »
theEword - 9 hours ago

We scooped Silver in the Sites and Search category! No Gold was awarded. #Fresh2014

Reply Retweet Favourite

theEweekly Wrap: 17 Oct Friday 17th of October, 2014by Dan Moores theEweekly Wrap: Google readies Android 5.0, HBO plans streaming service, and Bono says sorry.

More on this story »

theEweekly Wrap: 24 Oct Friday 24th of October, 2014by Martin Lindley This week: Mediative researches search behaviour, Microsoft drops Nokia brand, and Tinder gets premium service.

More on this story »

theEweekly Wrap: 31 Oct Friday 31st of October, 2014by Andy Williams This Week: Google steps up fight against privacy, Bing allows searching with emojis and Facebook announces new chatroom feature.

More on this story »

Who loves theEword

Who loves theEword Who loves theEword