Facebook Exec Leaving for Startup

A top exec is bolting from Facebook so he can work on his own startup. Chief technology officer Bret Taylor, who supervised platform and mobile products, will leave this summer, reports AllThingsD. His leaving could prove worrisome as a reflection of Facebook's inability to retain strong leadership, especially in the wake of the not-so-hot IPO, writes Kara Swisher. Taylor is not saying what his new business will be yet. (He posted a goodbye note on, yes, his Facebook page.)

“I had always been upfront with Mark [Zuckerberg] that I eventually wanted to do another startup,” Taylor said. “And we felt now is the best time after the IPO and the launch of some recent things for me to do that.” But it wasn't all bad news for Facebook today: The company's stock closed out its first positive week, notes AP. The stock is now at $30.01, though still well below the $38 IPO price. (More Bret Taylor stories.)