Yesterday, Matt Marshall reported about some new Facebook management reshuffles. One of them was the promotion of Christopher Cox from director of human resources to Director of Product. As Matt Marshall points out, this is a pretty “significant position because he will control the direction of future product releases.”

The other promotion is Mike Schroepfer, who was previously a lead engineer, to VP of Engineering. The company had been searching of a VP of Engineering but apparently the company decided not to go ahead and hire a VP of Engineering. The company continues to have significant executive shifts on a regular basis. Earlier this week Facebook hired a new general counsel.

There is also news that we wrote this morning that Facebook is in the process of letting employees finally sell their shares. While we don’t know if these two new promotions will result in more shares for each employee, Mike Schroepfer may have to wait some time before he cashes out given that he has only been at the company for two months.

Over the next few months we can only assume that there will be more executives to come and go. We’ll be sure to keep you up to date on the changes!