Mark Zuckerberg, Facebook founder speaks (Photo : Getty images/Kimberly White)
As Chief Executive Officer Brendan Iribe is stepping down from the role to lead a new division of the virtual reality headset maker, Facebook Inc.'s Oculus Rift is reorganizing.
In a blog post written by Oculus, two new groups have been created, one to focus on PCs and the other on mobile. Oculus will be leading the PC unit and Jon Thomason who joined Oculus in August will be its head of software and will be taking over the mobile group.
Bloomberg reported that Iribe stated that along with self, Thomason and Facebook Chief Technology Officer Mike Schroepfer will be working together to find a new leader for Oculus. A spokeswoman for the company stated that leader of the Oculus teams wouldn't hold the title of CEO and didn't provide further details about the role.
"With our growth and product strategy, we've decided to establish new PC and mobile VR groups to be more focused, strengthen development and accelerate our road map," Iribe says in the post.
"Facebook is committed to working on VR for the long term."
Streetwiser report reported that shares of Facebook (FB) racing in leading trade, it surging 0.48 percent to traded at $120.78. The price has volatility of 1.90 percent for a week and 20.02 percent for a month. Its beta stands at 0.68 times.
Iribe, who co-founded Oculus with Palmer Luckey has accelerated for the company to replicate Alphabet'success with extensive spread of Android operating system. Under own aegis, Oculus struck partnerships with other hardware producers to distribute the company's software. For example, the headsets of the company and Samsung's Gear VR both work on the same platform.
As the Oculus Rift device is in need of a connection to a fast PC with strong graphics card to function properly, Gear VR content only requires the computing power of a smartphone. Narrow down four to firm performance, the weekly performance stood at 1.92 percent and monthly performance at 4.46 percent.
The stock price of FB is surging up from its 20 days moving average with 1.61 percent and isolated negatively from 50 days moving average with -2.38 percent.
