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Facebook CTO Bret Taylor to leave later this summer

Taylor will launch a new venture with fellow Google alum Kevin Gibbs

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Facebook's chief technology officer, Bret Taylor, will leave the company later this summer, according to a post on his Facebook page Friday.

Taylor will launch a new venture with Kevin Gibbs, a former technology lead at Google. He didn't give any details of those plans Friday.

"I'm very proud of our recent accomplishments in our platform and mobile products, from Open Graph and App Center to Facebook Camera and our iOS integration. I'm even more excited for the world to see all the amazing things these teams have coming," he wrote.

Taylor joined Facebook in 2009 after leaving his startup FriendFeed, a social networking aggregator. Like Gibbs, Taylor also once worked at Google.

The news comes a month after Facebook's disappointing IPO (initial public offering), which has seen its stock price fall from US$38 to as low as $25.52 before recovering slightly in the past few days.

Earlier Friday, Facebook made public some of its earlier back-and-forth with the U.S. Securities and Exchange Commission. The regulatory body had pushed Facebook to be more explicit about the risks it faces as users move from desktop to mobile, where the company earns less revenue per user.

"I'm extremely confident in the teams and leadership we have in place," Taylor said in his post Friday. He called his time at Facebook "the most incredible three years of my life."



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