Facebook parent Meta COO Sheryl Sandberg says she is stepping down
PUBLISHED WED, JUN 1 20223:37 PM EDT
UPDATED 2 MIN AGO
Jessica Bursztynsky @JBURSZ
Matt Rosoff @MATTROSOFF
CNBC,com
KEY POINTS
-- Sheryl Sandberg is stepping down from her role as Chief Operating Officer at Meta, the company formerly known as Facebook.
-- Sandberg joined Facebook in early 2008 as the No. 2 to Facebook CEO and co-founder Mark Zuckerberg.
-- Javier Olivan, the company’s chief growth officer, will take over as COO this fall. Sandberg will continue to serve on Meta’s board of directors.
CEO of Facebook Mark Zuckerberg walks with COO of Facebook Sheryl Sandberg after a session at the Allen & Company Sun Valley Conference on July 08, 2021 in Sun Valley, Idaho. / Kevin Dietsch | Getty Images
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Sheryl Sandberg is stepping down from her role as Chief Operating Officer at Meta, the company formerly known as Facebook.
Sandberg joined Facebook in early 2008 as the No. 2 to Facebook CEO and co-founder Mark Zuckerberg, and helped turn Facebook into an advertising juggernaut and one of the most powerful companies in the tech industry, with a market cap that topped $1 trillion at one point.
Javier Olivan, the company’s chief growth officer, will take over as COO this fall, a spokesperson told CNBC. Sandberg will continue to serve on Meta’s board of directors.
Meta has come under fire in recent years for its massive influence, its lack of success in stopping the spread of misinformation and harmful material, and its acquisitions of one-time rivals like Instagram and WhatsApp. Zuckerberg and other execs have been forced to testify before Congress multiple times in the last three years, although Sandberg has largely escaped that spotlight. The company currently faces an antitrust lawsuit from the Federal Trade Commission and could see scrutiny from other agencies like the Securities and Exchange Commission after a whistleblower filed a complaint about its efforts to combat hate on its platform.
Sandberg leveraged her success with Facebook to elevate her own profile, especially among women in the workplace.
In 2013, she released the book “Lean In: Women, Work, and the Will to Lead,” focusing on the challenges women face in the workplace and what they can do to advance their careers.
In 2015, she was faced with the unexpected death of her husband Dave Goldberg, who suffered cardiac arrhythmia and collapsed on a treadmill. Sandberg has spoken at length about dealing with the grief of Goldberg’s passing, and in 2017, she released a took titled “Option B” centered around the topic.
Prior to Facebook, Sandberg served in the Treasury Department of the Clinton administration, then joined Google in 2001 and helped grow its advertising business.
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Facebook parent Meta COO Sheryl Sandberg says she is stepping down (cnbc.com) |
