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Facebook Loses Another Senior Exec

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Dan Rose, one of the earliest executives at Facebook, is stepping down from his role, reported CNBC.

Citing a Facebook post, CNBC reported Rose is moving to Hawaii to be closer to his family and doesn’t plan to seek out another executive position. He said he plans to remain busy by advising and investing in companies. “Over the past 12 years, this company has become my second family. When people ask me why I’m still at Facebook after so long, my answer is always simple — I love the people I work with and I believe deeply in our mission,” Rose said in his post, reported CNBC. This marks yet another executive to announce he or she is leaving the social media giant. Earlier in August Alex Stamos, the chief security officer, left while in July Facebook lost Colin Stretch, the company’s head legal counsel, noted the report. Rose had been involved in enterprise partnerships with the likes of Apple, Google and media companies.

The departure comes as Facebook appears to be eyeing the personal finance markets. According to a recent Wall Street Journal report, Facebook reportedly asked banks to share customer information, such as checking account balances and card transactions. The effort comes as Facebook seeks to become a place for commerce — not just a platform to interact with friends. Facebook has reportedly discussed finding a way for users to check their account balances, as well as sending them fraud alerts. The social media platform doesn’t plan to share the information with other parties or use the data to target ads to its users. “We don’t use purchase data from banks or credit card companies for ads,” Elisabeth Diana, head of global corporate communications for Facebook, told the WSJ. “We also don’t have special relationships, partnerships, or contracts with banks or credit card companies to use their customers’ purchase data for ads.”

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