Wednesday, June 23

Instagram co-founders step down from company: New York Times

(Reuters) – Co-founders of Facebook Inc’s (FB.O) Instagram, Kevin Systrom and Mike Krieger, have resigned and plan to leave the photo-sharing app company in coming weeks, the New York Times reported late on Monday, citing people with direct knowledge of the matter.

FILE PHOTO: Instagram Chief Executive Officer and co-founder Kevin Systrom announces the launch of a new service named Instagram Direct in New York December 12, 2013. REUTERS/Lucas Jackson

Instagram Chief Executive Officer Systrom and Chief Technical Officer Krieger have notified the photo-sharing app’s leadership team and Facebook on Monday about their decision to leave, the newspaper reported.

Systrom and Krieger did not give a reason for their departure, the paper said, adding that they planned to take time off after leaving Instagram.

An Instagram spokeswoman did not have immediate comment. Facebook was not immediately available to comment outside regular business hours.

Reporting by Bhargav Acharya in Bengaluru; Editing by Gopakumar Warrier

Our Standards:The Thomson Reuters Trust Principles.

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