Toronto (CNN Business) Mark Zuckerberg needs to give up some of his control of Facebook and hire a new CEO, a former Facebook executive said Tuesday.

"There is a legitimate argument that he has too much power. He needs to give up some of that power," Alex Stamos, Facebook's former chief security officer, said about his old boss while speaking at the Collision tech conference in Toronto, Canada.

Stamos added that "Facebook needs to have an internal revolution on the culture of how products are built" and Zuckerberg should lead that charge.

"If I was him I would go hire a new CEO for the company," Stamos said.

He suggested Brad Smith, the president of Microsoft, could be a good fit as an "adult who has been through this before."