Facebook names executive Adam Mosseri Instagram CEO

By Umar Farooq

WASHINGTON (AA) – Facebook on Monday named its long-time executive Adam Mosseri as the new head of Instagram, succeeding the company's founders Kevin Systrom and Mike Krieger.

Mosseri previously served as the head of product for Instagram. Before he held leading positions at Facebook in their Mobile and News Feed teams.

The founders of the company emphasized they believed Mosseri was the right person for the position.

"To us, the most important thing is keeping our community — all of you — front and center in all that Instagram does. We believe that Adam will hold true to these values and that Instagram will continue to thrive," Systrom and Krieger said in a statement.

Systrom and Krieger announced their departure from the company last week, which was bought by Facebook six years ago for $1 billion.

"Humbled and excited by the new role leading Instagram, thank you @Kevin @Mikeyk for all you've done," Mosseri tweeted about his new position.