Sheryl Sandberg steps down as COO of Fb-parent Meta

Meta Platforms Inc Chief Working Officer Sheryl Sandberg, whose shut partnership with Chief Government Officer Mark Zuckerberg powered the expansion of the world’s greatest social community, is leaving the corporate after 14 years, she stated in a Fb publish on Wednesday.

The announcement initially despatched the social media agency`s shares down 4%, however the inventory was almost flat in after hours commerce.

“After I took this job in 2008, I hoped I’d be on this position for 5 years. Fourteen years later, it’s time for me to put in writing the following chapter of my life,” she wrote.

Chief Progress Officer Javier Olivan will take over as chief working officer, Zuckerberg stated in a separate Fb publish, though he added that he didn’t plan to interchange Sandberg`s position immediately inside the firm`s current construction.

“I believe Meta has reached the purpose the place it is sensible for our product and enterprise teams to be extra intently built-in, somewhat than having all of the enterprise and operations capabilities organized individually from our merchandise,” he stated.

Olivan has labored at Meta for greater than 14 years and has led groups dealing with Fb, Instagram, WhatsApp and Messenger.

Sandberg`s departure marks an finish of an period for Meta, which is shifting focus towards {hardware} merchandise and the “metaverse” after years of scandals over privateness abuses and the unfold of conspiratorial content material on its platforms, in addition to plateauing person development on its flagship app Fb.

The second-in-command to founder Zuckerberg, who was 23 years previous when he employed her, Sandberg is without doubt one of the most seen executives on the firm and the lead architect of its often-criticized ads-based enterprise mannequin.

Bringing administration expertise and information of the then-nascent digital adverts trade, she remodeled Fb from a buzzy startup right into a income behemoth, whereas additionally positioning herself because the face of feminism in company America.

On the time, Fb was making $272 million in income, for a internet lack of $56 million, in accordance with regulatory filings. By 2011, a yr earlier than the corporate`s preliminary public providing, its income had shot to $3.7 billion on $1 billion in earnings.

Meta ended 2021 with income of $118 billion and earnings of $39.4 billion.

Sandberg stated in her publish that she’s going to proceed to serve on Meta`s board after leaving the corporate within the fall.

When requested about her subsequent steps, she informed Reuters she was specializing in philanthropy at a “important second for girls.”

“We`ve employed so many nice leaders. I really feel actually good about that. The subsequent management workforce is in place to take the corporate ahead,” she stated, mentioning Chief Enterprise Officer Marne Levine and President of International Affairs Nick Clegg by title.

STAUNCH DEFENDER

Sandberg has been a staunch defender of Fb over the course of its many controversies, constantly arguing that executives had been studying from their errors and honing the corporate`s instruments to raised police in opposition to dangerous content material.

She informed Reuters final yr that she and Zuckerberg had a accountability to repair methods that had failed, whereas rejecting experiences that she was dropping energy on the firm.

“Individuals love headlines about company drama, and I believe it`s honest to say they notably love headlines about sidelining ladies,” she stated within the January 2021 interview.

Sandberg`s tenure coated each Fb`s authentic settlement with the US Federal Commerce Fee in 2011 for privateness violations and a subsequent blockbuster $5 billion settlement for violations of the sooner deal.

She and Zuckerberg had been amongst those who then-Commissioner Rohit Chopra stated ought to have confronted extra investigation for his or her roles within the firm`s habits.

Beneath her management, the corporate was buffeted by revelations in 2018 that UK consultancy Cambridge Analytica had improperly acquired knowledge on tens of millions of its US customers to focus on election promoting.

The identical yr, UN human rights investigators stated the usage of Fb had performed a key position in spreading hate speech that fueled violence in opposition to the Rohingya neighborhood in Myanmar.

She courted further criticism when she informed Reuters early final yr she believed occasions across the Jan. 6 assault on the US Capitol had been largely organized on different platforms, though researchers had recognized related exercise on Fb as nicely.

Whistleblower Frances Haugen late final yr accused the social media large of repeatedly prioritizing revenue over clamping down on hate speech and misinformation, and stated her legal professionals had filed at the very least eight complaints with the US Securities and Trade Fee.

Previous to becoming a member of Fb, Sandberg was vice chairman of International On-line Gross sales and Operations at Google and chief of workers for the US Treasury Division below former President Invoice Clinton.

A Harvard College graduate, Sandberg is the writer of a number of books, together with the 2013 feminist manifesto “Lean In: Ladies, Work, and the Will to Lead.”

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