Sheryl Sandberg steps down from Meta's board after 12 years
What's the story
Sheryl Sandberg, who held the position of Meta's Chief Operating Officer (COO) for 14 years and served as a board member for 12 years, has decided to step down from the company's board of directors. In a post shared on Facebook and Instagram, Sandberg shared that "this feels like the right time to step away" and mentioned she would continue to advise the company. Her departure from the board will officially end in May.
Details
Zuckerberg thanks Sandberg for her vital contribution
"After I left my role as COO, I remained on the board to help ensure a successful transition," Sandberg wrote. She expressed confidence in the company's future under the leadership of Mark Zuckerberg, Javi Olivan, Justin Osofsky, and Nicola Mendelsohn, stating that their teams have "proven beyond a doubt that the Meta business is strong and well-positioned for the future." Meta is yet to reveal who will replace Sandberg on the board.
What Next?
Sandberg's impact on Meta's ad business
Axios reports that Meta's revenue grew by an incredible 43,000% during Sandberg's tenure. However, her role within Meta changed in recent years as Zuckerberg shifted focus toward the metaverse, which currently lacks a clear path for an advertising business. Presently, Meta is facing a host of challenges as countries upscale social media regulations and Apple modifies its privacy regime, impacting Meta's targeted ad business.