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Facebook’s Shields to Become CEO of London’s Technology Project

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Oct. 21 (Bloomberg) -- Joanna Shields, Facebook Inc.’s vice president for Europe, Middle East and Africa, will leave the U.S. company and join a project to create a technology hub in London, according to the U.K. government.

Shields will become chief executive officer at the Tech City Investment Organisation as of January, the Department for Business and Innovation Skills said in a posting on its website today. She will also take up a position as business ambassador for U.K.’s digital industries and will be the chairman of the Tech City Advisory Group, according to the statement.

“Joanna’s experience will be hugely valuable in supporting Tech City,” British Prime Minister David Cameron said in the statement.

The Tech City Investment Organisation was created in April last year to support the growth of a cluster of technology companies in East London. The Tech City Advisory Group, formed by entrepreneurs, investors and academics, was established to help the U.K. government develop the project.

“This country has the potential to become a major force in digital innovation,” Shields said in the statement. “The seeds have been sown in East London for a dynamic and successful cluster. We have the infrastructure, the technology and the talent, now we need to accelerate the growth.”

Prior to joining Facebook, Shields was president at AOL Inc., responsible for social and communications businesses. She has also served as Google Inc.’s managing director for Europe, Russia, Middle East and Africa.

To contact the reporter on this story: Isis Almeida in London at ialmeida3@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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