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Week in Review: October 1, 2018

October 1, 2018
Week in review
Week in review

Instagram’s co-founders are out, Daimler names new CEO to lead push into autonomous vehicles, and Elon Musk commits to stepping down as Tesla Chairman amid pressure from the SEC. Check out this week in review!

Every Monday, we bring our members a digest of the most important executive changes from the previous week. Let us know about executive changes at contact@theorg.com so we can include them in next week’s update!

After reportedly butting heads with Larry Ellison, Oracle’s top cloud executive is leaving the company
Weeks after Oracle said its top cloud executive was taking a temporary leave of absence from the company, it confirmed Friday afternoon at the end of the longest week ever that Thomas Kurian has officially moved on. Kurian’s departure comes just weeks after Bloomberg reported a conflict with Oracle co-founder, Larry Ellison over the direction of Oracle’s platform software strategy

Source: Geekwire

Updated org chart: Oracle

Both of Instagram's cofounders are quitting after reported 'tensions' with Mark Zuckerberg
Instagram's two cofounders, Kevin Systrom and Mike Krieger, are leaving the company, they said in a statement on Monday night. According to a report from Bloomberg, the departures come "after growing tensions with Facebook CEO Mark Zuckerberg over the direction of the product.

Source: Business Insider

Updated org chart: Facebook

Facebook likely to make Adam Mosseri new Instagram head
The Information reported Tuesday that Facebook Inc. looks likely to make Adam Mosseri the new head of Instagram following the resignations of cofounders Kevin Systrom and Mike Krieger. The report, which cites multiple anonymous sources, said that Mosseri's promotion is likely to come in the next few days. Mosseri currently serves as Instagram's vice president of product.

Source: MarketWatch

Updated org chart: Instagram

Daimler names new CEO to lead push into electric, autonomous vehicles
Daimler said Wednesday that Dieter Zetsche is stepping down as CEO and will be replaced by a long-serving executive who has most recently been leading the automaker’s research and development efforts, including its push into electric vehicles. Daimler has picked Ola Källenius to head up Mercedes-Benz vehicles and Daimler. Källenius is the first non-German to hold the top spot and will take over in 2019.

Source: TechCrunch

Updated org chart: Daimler

Elon Musk agrees to resign as Tesla chairman in settlement with SEC
Telsa CEO Elon Musk will step down as chairman of the electric automaker and pay a $20 million fine under a settlement reached with the U.S Securities and Exchange commission. Musk will remain CEO and he will still keep a seat on the board, just not as chairman. Musk will resign from his role as chairman of the Tesla board within 45 days of the agreement, which was filed Saturday.

Source: TechCrunch

Updated org chart: Tesla