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Chief technology officer steps down

Facebook tech chief Bret Taylor leaves to start own company

Facebook’s Bret Taylor has announced that he will leave the social networking site within the next few weeks.

Taylor has said the he is sad to be leaving, but excited to be start a new company, this comes just a month after Facebook run into some trouble after floating part of the company on the Nasdaq stock exchange.

As Facebook went public, technical glitches kept many investors from buying shares and not knowing whether their order went through. This has resulted in the company being sued by a number of angry shareholders.

"While a transition like this is never easy, I’m extremely confident in the teams and leadership we have in place," commented Taylor.

By going public, many of Facebook’s employees were made overnight millionaires; some suspected that this would see a few major players move away from the social networking site.

After joining Facebook via the acquisition of FriendFeed in 2009, Taylor will start his new venture with friend Kevin Gibbs.

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