Facebook Appoints Adam Mosseri As New Head Of Instagram

(RTTNews) - Facebook has appointed Adam Mosseri as the head of Instagram following resignations of co-founders Kevin Systrom and Mike Krieger last week.

Co-founders Kevin Systrom and Mike Krieger announced the appointment of Adam Mosseri, current Vice President of Product, as new Head of Instagram.

"We are thrilled to hand over the reins to a product leader with a strong design background and a focus on craft and simplicity — as well as a deep understanding of the importance of community. These are the values and principles that have been essential to us at Instagram since the day we started, and we're excited for Adam to carry them forward," Systrom and Krieger said in a statement.

Mosseri will take over the reigns of Instagram immediately. Mosseri has been Instagram's head of product since earlier this year and previously led the company's News Feed division.

Last week, Systrom and Krieger announced they are leaving the company. Both of them did not reveal any reason for stepping down, however, said they are now "ready for our next chapter."

"We're planning on taking some time off to explore our curiosity and creativity again. Building new things requires that we step back, understand what inspires us and match that with what the world needs; that's what we plan to do," Systrom said in a blog post.

Instagram was created by Systrom and Krieger in 2010. Facebook acquired Instagram in April 2012 for about $1 billion. The photo-sharing app has more than 1 billion active monthly users.