Facebook Inc's Instagram on Monday announced that Adam Mosseri, the current vice president of product, will take over as the new head of the photo-sharing app.

In a blog post, Instagram's co-founders Kevin Systrom and Mike Krieger, who have announced their departure from the company, said Mosseri will oversee all functions of the business and will recruit a new executive team.

Instagram co-founders Kevin Systrom and Mike Krieger on September 25, 2018, resigned as chief executive officer and chief technical officer of the photo-sharing app owned by Facebook Inc, with the pair giving a scant explanation.

The departures at Facebook's fastest-growing revenue generator come just months after the exit of Jan Koum, co-founder of Facebook-owned messaging app WhatsApp, leaving the social network without the developers behind two of its biggest services.

They also come at a time when Facebook's core platform is under fire for how it safeguards customer data, as it defends against political efforts to spread false information, and as younger users increasingly prefer alternative ways to stay in touch with family and friends. Concerns over Facebook's business sparked the biggest one-day wipeout in US stock market history in July.

First Published:Oct 1, 2018 11:30 PM IST