Sheryl Sandberg Steps Down From Facebook’s Parent Company, Meta

Sheryl Sandberg, Matana’s chief operating officer and longtime second-in-command of Mark Zuckerberg, its founder, said Wednesday that she was resigning after 14 years because the company was constantly facing questions about its social media platform and navigating one. Is. Transition to so-called metavers.

Ms. Sandberg, 52, said she is leaving Meta – which owns Facebook, Instagram, WhatsApp and other apps – this fall and she plans to continue serving on the company’s board of directors. In an interview, she said joining Facebook was a “lifelong honor and privilege” and was expected to do so for about five years, rather than the 14 years she initially served.

Ms. Sandberg said the job has not left her with time for many other businesses and he now wants to focus on her personal philanthropy and her foundation, Lean In. She is also set to marry television producer Tom Burnthal this summer.

“I believe in this company,” Ms. Sandberg said in an interview. “Did we get everything right? Not at all. Did we learn and listen and grow up and invest where needed? This team has and will continue to have.”

Mr. Zuckerberg has named longtime product executive Javier Olivan as Matana’s next chief operating officer. Mr. Olive has overseen most of Facebook’s growth over the past decade, and has managed WhatsApp, Instagram, Messenger and Facebook.

Ms. Sandberg is ending his term at Meta, far from the prestigious summit he reached in the last decade. As Shri’s Chief Lieutenant. Zuckerberg, Ms. Sandberg helped grow Facebook’s business in the company’s early years and was regarded as an adult in the room. Facebook’s advertising business flourished under her and Ms. Sandberg used her corporate reputation to speak out on other issues, such as what women can achieve in the workplace.

But after the 2016 presidential election, Facebook came under intense scrutiny for how it was misused to stroke divisions and spread misinformation. Ms. Sandberg was responsible for the company’s policy and security team during that election. The social network was also beset with privacy questions following a scandal involving Cambridge Analytica, a voter-profiling firm that misused Facebook data.

Ms. Sandberg, one of Facebook’s most visible executives, was unable to recover from the stumbling block. In recent years, Mr. Zuckerberg took a high public profile and played a major role in overseeing various parts of the company, many of which Ms. The only preview of Sandberg.

Her departure also comes at a time when Facebook is moving in a new direction. Last year, Mr. Zuckerberg changed the company’s name to Meta and announced that it would be the main provider of Metavers, an immersive online world. But as the company continues to spend heavily on Metavers products, its advertising business has stalled, partly due to privacy changes made by Apple that have targeted targeted advertising.

In February, Meta’s market value plummeted by more than $ 230 billion, its biggest one-day cleanup since the financial results were announced, indicating that it is struggling to make the leap to Metavers.

In the interview, Ms. Sandberg said Meta faced near-term challenges but will face hurricanes during past challenges. “When we went public, we didn’t have any mobile ads,” she said. Citing the company’s rapid transition from desktop to smartphone over the past decade, Sandberg said. “We’ve done this before.”

Ms. Sandberg has flirted with leaving Facebook in the past. In 2016, she told colleagues that if Hillary Clinton, the Democratic presidential candidate, won the White House, she would most likely take a job in Washington, according to three people who spoke to her at the time about the move. In 2018, after revelations about Cambridge Analytica and Russia’s interference in the 2016 US presidential election, she again told her colleagues that she was considering leaving but did not want to do so when they were in crisis.

In a Facebook post on Wednesday, Mr. Ms. Zuckerberg. Sandberg.

“It’s unusual for a business partnership like ours to last so long,” he wrote. “Sheryl architected our advertising business, hired great people, forged our management culture and taught me how to run a company.”

This is a developing story. Check back for updates.

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