Exodus of Facebook's Top Talents Continue
According to the latest figures, Facebook's stocks are now down to $20.88 a share. This represents a 45% decline in share prices since the company's IPO on May 18. But apart from this, Facebook has other things to worry about as the exodus of its top executives and talents continue.
Already, Facebook's CTO Bret Taylor announced earlier that in June that he would leave the company to form his own start-up, while its PR Director Barry Schnitt's has already left the company for greener pastures at Pinterest.
Joining them now is Ethan Beard, Director of Platform Partnerships, who just announced over Facebook that he will leave the company soon. He will be joined by Platform Marketing Director Katie Mitic and Mobile Platform Marketing Manager Johnathan Matus, both of whom also announced their departures on Facebook. The three were working on building relationships with app developers for Facebook.
This is a scenario that Facebook doesn't want, as its share prices continue to fall, the company is worried that the continuing exodus of its top executives and talents will further dampen investor confidence in the company.