UPDATE 1-Instagram co-founders step down from company - NYT

Co-founders of Facebook Inc's Instagram, Kevin Systrom and Mike Krieger, have resigned and plan to leave the photo-sharing app company in coming weeks, the New York Times reported late on Monday, citing people with direct knowledge of the matter.

Instagram Chief Executive Officer Systrom and Chief Technical Officer Krieger have notified the photo-sharing app's leadership team and Facebook on Monday about their decision to leave, the newspaper reported https://nyti.ms/2xBdQ3w.

Systrom and Krieger did not give a reason for their departure, the paper said, adding that they planned to take time off after leaving Instagram.

An Instagram spokeswoman did not have an immediate comment. Facebook was not immediately available to comment outside regular business hours.