Meta's COO Sheryl Sandberg is stepping down after 14 years
Meta's second-in-command Sheryl Sandberg has announced that she will step down from the chief operating officer (COO) position of the company. Sandberg, 52, has been with the social media giant for 14 years and played a huge role in guiding Facebook to become the advertising behemoth it is now. She will focus more on her foundation and philanthropic work after her exit.
Why does this story matter?
During her 14 years at Facebook, Sandberg has seen the company grow from a start-up to one of the biggest in the world. However, the last few years have seen the firm losing its market share to new ventures. Many think that the company and founder-CEO Mark Zuckerberg have outgrown Sandberg, who is considered an "adult voice" in a company of young tech wizards.
Take a look at Sandberg's post
Sandberg joined Facebook in 2008
Before joining Facebook, Sandberg worked at Google for six years. In 2008, she joined a four-year-old Facebook led by a 23-year-old Zuckerberg. She played an important role in guiding the then-young and untested social media company to an IPO and ad dominance. Sandberg has led Facebook's ad side of things since then. During her tenure, Facebook became the second-largest digital ad platform.
Sandberg's involvement in Meta's ads business declined over time
Recently, Sandberg has been less involved with Meta's ad business. Although she remained the company's public voice, various sources say that her exit does not come as a shock. Her position has come under scrutiny in recent years for pushing back at the criticism Facebook faced. The ad business of the company that she has watched over has also seen a sharp decline.
Sandberg accused of squashing negative reporting against Activision chief
Facebook and Sandberg have been at the receiving end of many controversies in recent years. Once one of the most powerful people in Silicon Valley, her start power faded during the Cambridge Analytica scandal. Her actions were again called into question when reports of her using her position to curb negative reporting about her ex-boyfriend and Activision Blizzard CEO Bobby Kotick.
Zuckerberg has no plans of replicating Sandberg's role
Sandberg will spend the next few months helping Zuckerberg to transition her direct reports. She will, however, retain a seat on the company's board. As for Meta, Zuckerberg called the change the "end of an era." He does not plan to replicate her exact position. Javier Olivan, the company's chief growth officer, will replace her in a "more traditional" COO role.
