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Instagram names Facebook veteran Adam Mosseri as new CEO

New leadership takes over at Instagram
By Shawn Knight,
The big picture: Adam Mosseri is a Facebook veteran that has been under Zuckerberg's wing for more than a decade. Familiar with the company's mission, he'll help steer Instagram in the direction Facebook wants to take it which is reportedly, well, more like Facebook.

Instagram Head of Product Adam Mosseri on Monday was promoted to chief executive. The development follows last week’s announcement that co-founders Kevin Systrom and Mike Krieger, CEO and CTO, respectively, were leaving the photo-sharing social network.

Mosseri, according to his LinkedIn profile, joined Facebook as a product designer in July 2008, working his way up the corporate ladder over the years. This past May, the executive transitioned from VP of Product Management at Facebook to Head of Product at Instagram.

Systrom and Krieger announced the appointment on Instagram’s blog. In the post, the duo said that in their absence, they hope Instagram keeps the community front and center in everything it does. “We believe that Adam will hold true to these values and that Instagram will continue to thrive,” they added.

The Information predicted Mosseri’s appointment a week ago, just hours after Systrom and Krieger announced plans to leave. According to the site, he was brought on to the Instagram team earlier this year as part of a larger reorganization and was tasked with overseeing product, growth and analytics.

Systrom and Krieger reportedly decided to leave Instagram due to Facebook’s increasing involvement in Instagram’s day-to-day activities, specifically by Facebook CEO Mark Zuckerberg.

Facebook purchased Instagram for $1 billion in 2012 although these days, it’s estimated to be worth more than $100 billion.
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