Facebook (FB) CTO Mike Schroepfer to Step Down

September 22, 2021 5:03 PM EDT

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Mike Schroepfer, Chief Technology Officer (CTO) of Facebook, Inc. (NASDAQ: FB) announced he has made a decision to step down from the role and take a new part-time role as the company’s first Senior Fellow sometime in 2022.

Schroepfer, who has spent 13 years at the company, said in his Facebook post on Wednesday, that this change in role will allow him to spend more time with his family and his personal philanthropic efforts, while staying deeply connected to Facebook, working on key initiatives, which include recruiting and developing technical talent and continuing to foster the company’s AI investments in critical technologies like PyTorch.

"In 2022, Mr. Schroepfer will become a Senior Fellow at Facebook, in which role he will work on initiatives such as recruiting and developing technical talent and fostering the company's artificial intelligence investments," Facebook said in its disclosure about the move. "The effective date of the transition and the compensation terms of such arrangement have not yet been determined."

Schroepfer said he is excited that Andrew Bosworth, who created Facebook’s AR/VR organization (renamed Facebook Reality Labs (FRL) in 2020) will be transitioning into the role of CTO in 2022.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Hot Mgmt Changes, Management Changes