In a social media post, Cathcart said, "After nearly 7 years leading WhatsApp, I'm excited to share who will take over the responsibility of delivering simple, reliable, and private messaging for the world. WhatsApp is in the strongest position it's ever been — and that felt like the right moment to step back.”
Shah's appointment as WhatsApp's head comes alongside Meta's decision to invest about $900 million (€789 million) in consumer finance firm CRED, one of the largest investments by a global technology company in an Indian fintech startup.
Shah will step down from his executive responsibilities at CRED and join Meta. He will continue holding his personal stake in the fintech company.
"I look forward to working with Mark, Chris, and the leadership across Meta for the next step in WhatsApp’s journey," Shah said, announcing his transition to Meta.
India is WhatsApp's largest market, with over half a billion users, according to 2021 government figures. But analysts say it has largely missed the chance to build an equally popular payments service.
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