ViacomCBS Inc’s prime compliance official, Henry Moniz, is going to Fb Inc as the social media platform’s 1st chief compliance officer, as Facebook faces scrutiny from regulators and lawmakers.
“We are happy to affirm that Henry Moniz will be becoming a member of Fb to lead our approach and execution of compliance matters in the U.S. and all around the globe,” a Facebook spokeswoman told Reuters on Thursday.
Moniz held senior compliance roles at Viacom starting up in 2004. Just after its merger with CBS Corp in 2019, he grew to become the main compliance officer and chief audit government of the mixed firm.
Organization Insider claimed earlier on Thursday that Moniz will be a part of Facebook on Feb. 8 and will report to Jennifer Newstead, the company’s common counsel, as nicely as to the audit and risk oversight committee of Facebook’s board of directors.
The growth comes as Facebook and other massive tech providers deal with regulatory scrutiny, with developing bipartisan consensus to hold them accountable for company practices.
The U.S. Federal Trade Commission and almost each U.S. condition submitted lawsuits against Facebook in December, declaring it employed a “buy or bury” method to snap up rivals and keep scaled-down competitors at bay.
The issues accused Fb of acquiring up rivals, concentrating specifically on its past acquisitions of picture-sharing application Instagram for $1 billion in 2012 and messaging app WhatsApp for $19 billion in 2014.
The lawsuits ended up the largest antitrust conditions in a era, similar to the lawsuit versus Microsoft Corp in 1998.
Fb Chief Govt Mark Zuckerberg acknowledged very last month that criticism of Fb had damage staff morale, stating public scrutiny “comes with the territory.”
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