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Oculus CEO to step down as part of restructuring

Brendan Iribe, the CEO of Facebook Inc.'s virtual reality unit Oculus VR, Inc., is stepping down from his position as part of a restructuring.

Oculus, which Facebook acquired in 2014, will split into two groups: PC and mobile. Iribe will step down from the top spot to lead the PC VR group, according to his Dec. 13 blog post, working on the Oculus rift headset, research and computer vision. "With this new role, I can dive back into engineering and product development," he added.

Jon Thomason, who joined Oculus recently, will head the mobile VR group. Thomason and Iribe, along with Facebook's Chief Technology Officer Mike Schroepfer, will together look for a new CEO for Oculus.