Sheryl SandbergMark Zuckerberg, CEO of Meta and longtime second-in-command of its founder Mark Zuckerberg, announced on Wednesday that he was stepping down after 14 years. Called metawares.
52-year-old Mrs. Sandberg said he plans to step down from the meta that owns Facebook, Instagram, WhatsApp and other apps and continue to serve on the company’s board of directors. In an interview, he said joining Facebook was an “honor and privilege of a lifetime” and that he initially expected to do so for approximately five years instead of the 14 years he worked.
Mrs. Sandberg said the work did not set aside time for many other endeavors and that he now wanted to focus on his personal charity and his foundation, Lean Inn. He is also getting married this summer. To Tom BerthallA TV producer.
“I trust this company,” Ms Sandberg said in an interview. “Have we got everything right? Absolutely not. Have we learned, listened, grown, and invested where needed? This team has and wants.
Mr. Zuckerberg has appointed Javier Olivena, longtime production manager, as Meta’s next CEO. Mr. Olive has overseen much of Facebook’s growth over the past decade and has managed WhatsApp, Instagram, Messenger and Facebook.
Ms Sandberg is ending her term in the meta, far from the pinnacle of her reputation over the past decade. Mr. As Zuckerberg’s chief lieutenant, Ms. Sandberg helped build Facebook’s business during the company’s early years and was considered an adult in the room. Facebook’s advertising business grew under her, and Ms Sandberg used her corporate reputation to talk about other issues, such as what women can achieve in the workplace.
But after the 2016 presidential election, there was a serious scrutiny of how Facebook was Misused to provoke secession And spread misinformation. Ms. Sandberg was in charge of the policy and safety committee at the company during that election. Social networking is backed up by privacy questions Corruption involving Cambridge AnalyticaVoter profile company that misused Facebook data.
Ms. Sandberg, who was one of Facebook’s most visible executives, could not recover from those setbacks. In recent years, Mr. Zuckerberg has a high public profile and has played a major role in overseeing various parts of the company, many of which include Ms. Were under Sandberg’s sole purpose.
His departure comes as Facebook moves in a new direction. Last year, Mr. Zuckerberg changed its name to Meta and announced that it would become a major provider of metawares. But as the company has been spending heavily on metawares products, its advertising business has stumbled, affecting targeted advertising due to privacy changes made by Apple.
In February, The market value of the meta fell With more than $ 230 billion, its biggest one-day sweep, after reporting financial results, showed that it was having a hard time flowing into metawares.
In the interview, Ms. Sandberg said the meta faced short-term challenges, but will face the same storm as it did during past challenges. Ms Sandberg said, “When we went public, we had no mobile ads,” citing the company’s rapid transition from desktops to smartphones over the past decade. “We’ve done this before.”
Ms. Sandberg has been hilarious leaving Facebook in the past. In 2016, he told colleagues that if Democratic presidential candidate Hillary Clinton wins the White House, she will get a job in Washington, said three people who spoke with her about the move at the time. In 2018, after revelations about Cambridge Analytica and Russia’s involvement in the 2016 US presidential election, he said he would consult with colleagues again, but did not want to do so when they were in crisis.
In a Facebook post on Wednesday, Mr. Zuckerberg praised Mrs. Sandberg.
“It is unusual for a business partnership like ours to last so long,” he wrote. “Sheryl created our advertising business, hired the best people, created our management culture and taught me how to run a company.”
This is a growing story. Check back for updates.