New Delhi: Sheryl Sandberg, 52, the chief operating officer of Facebook and its parent company Meta, has announced she will step down from her position. Sandberg has served as chief operating officer at the social media giant for 14 years. She joined from Google in 2008, four years before Facebook went public.
Sandberg said on her Facebook page that she is stepping down as chief operating officer, but would remain on the board of parent company Meta.
“When I took this job in 2008, I hoped I would be in this role for five years. Fourteen years later, it is time for me to write the next chapter of my life,” Sandberg wrote on Facebook. Meta shares fell more than two percent on word that Sandberg is leaving, another blow to a stock value that has plummeted after worries emerged the company’s regular growth was coming to an end.
Sandberg, who lost her husband Dave Goldberg suddenly in 2015, said she is “not entirely sure what the future will bring.”
“But I know it will include focusing more on my foundation and philanthropic work, which is more important to me than ever given how critical this moment is for women,” she wrote, adding that she is also getting married this summer and that parenting their expanded family of five children will also be a part of this future.
CEO Mark Zuckerberg said in a Facebook post, “She has taught me so much and she has been there for many of the important moments in my life, both personally and professionally,”
Zuckerberg said that Sandberg’s role won’t be replaced as it was at the company, but that Javier Olivan will become Meta’s next chief operating officer.But the next COO will be more traditional, different from the close second-in-command status Sandberg holds, Zuckerberg said.