(Updates with shares in third paragraph.)
March 15 (Bloomberg) -- Facebook Inc. appointed Mike Schroepfer as chief technology officer, promoting an executive steeped in the software and hardware that runs the world’s largest social network.
Schroepfer, who joined Facebook in 2008, has been involved in many of Facebook’s recent upgrades as vice president of engineering. He replaces Bret Taylor, who stepped down last year and left the company following its initial public offering.
The promotion helps fill Facebook’s executive ranks as it seeks to ramp up sales and user growth amid pressure from investors to generate more money from its more than 1 billion users. The company’s shares have declined 30 percent since the IPO in May.
“Mike Schroepfer’s new designation as Facebook’s CTO reflects the unique and important role he plays across the company,” Tucker Bounds, a spokesman for Menlo Park, California-based Facebook, wrote in an e-mailed statement.
Prior to joining Facebook, Schroepfer was vice president of Mozilla Corp., the company behind the Firefox Web browser. He was also at Sun Microsystems, now part of Oracle Corp.
--Editors: Reed Stevenson, Tom Giles