The Chief Operating Officer of Meta, Sheryl Sandberg, announced on her official Facebook page on Wednesday, 1 June, that she will be leaving Facebook's parent company after 14 years this fall.
When Sandberg joined Facebook, Meta in 2008, she hoped she would be in the role for five years. Fourteen years later, Sandberg wrote in her Facebook post, "It is time for me to write the next chapter of my life."
The next chapter that Sandberg referred to is her work in philanthropy with an aim to devote her time and energy towards her Sheryl Sandberg & Dave Goldberg Family Foundation, a non-profit organisation that aims to create a more equal and resilient world through LeanIn.Org and OptionB.
Sandberg will continue to serve on Meta's board of directors. Javier Olivan, the company's current Chief Growth Officer, will transition into Sandberg's role in the fall. Olivan is another longtime Meta employee.
Meta's shares have fallen almost three percent since Sandberg announced her exit, as reported by Financial Times.
She blazed the trail for companies like Facebook to bring about diversity and gender inclusivity into tech companies which have traditionally been a male-dominated space. Her contribution brought the challenges faced by women at the workplace into the spotlight.
She even talked about having experienced sexual harassment during her career in her book, "Lean In" which was published in 2013.
"I had tried The Facebook, as it was first called, but still thought the internet was a largely anonymous place to search for funny pictures."Sheryl Sandberg, Chief Operating Officer, Meta
Sandberg referred to the privacy debate surrounding the social media landscape and said it is the responsibility of social media companies to build products in a way that protects individual privacy and keeps people safe.
Sandberg was instrumental in turning the then start-up into a $120 Billion revenue-making company a household name. Alongside Mark Zuckerberg, Sandberg spearheaded the culture at Facebook which focused on accelerating growth and fixing problems on-the-go.
Having played a crucial role in creating Facebook's ads sector, she has been the face of the company for many years. As Meta focuses on metaverse, the advertising branch of the company has experienced a downturn, according to a report by The New York Times.
Mark Zuckerberg said he was grateful to have a "lifelong friend" in his comment on Sandberg's Facebook post.
"The end of an era. In the 14 years we've worked together, you've architected our ads business, hired great people, forged our management culture, and taught me how to run a company. I'm going to miss working alongside you every day, but grateful to have you as a lifelong friend. Thank you for all you've done for me and my family, for our company, and for millions of people around the world. You're a superstar."Mark Zuckerberg, Chief Executive Officer, Meta
Zuckerberg announced several other promotions and a larger reshuffle citing that it was time for the product and business groups to be integrated instead of the existing business and operations functions' silos being separate from the products.
(With inputs from The New York Times and The Financial Times)
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