Facebook will be rolling out "simplified" privacy settings to appease concerns over safeguarding users' information, it has been announced.

The company's chief executive Mark Zuckerberg said the alterations would make it easier for users to control how much information they were sharing.

He admitted the privacy settings had become too complex and said the new system would allow users to change their settings in "just one click" using a simple grid.

However Mr Zuckerberg insisted that some information should remain in the public domain so that "real world friends" could find each other on the social networking site.

Speaking from Facebook's US headquarters in Palo Alto, California, Mr Zuckerberg added that members would also have a new level of control over the information they shared with external applications and third parties. Users can "opt out" of allowing others to access their information.

He said: "The new privacy settings are a balance between sharing and helping people find you on the service."