Facebook shares drop as Executives quit, Christchurch live-stream shooting stirs outrage
Shares of Facebook Inc fell as much as 5 percent on Friday to their lowest in nearly three months after the surprise departure of Chief Product Officer Chris Cox, at a time when the company is again being scrutinized over its handling of privacy, extremism and political content.
Cox, a Wall Street favorite who has worked with Facebook founder Mark
Zuckerberg for 13 years, led the social network’s business development
team and helped define the business model of its messaging service
WhatsApp.
“We believe Cox played a critical role in establishing
FB’s mission, values, and culture, and he was extremely well-regarded
inside and outside the company, including by Wall Street,” JPMorgan
analysts wrote in a research note.
Also departing is WhatsApp Vice President Chris Da...