After a tumultuous decade within the govt suite, Meta (née Facebook) COO Sheryl Sandberg is leaving the corporate.
Sandberg broke the information shortly earlier than the shut of buying and selling on Wednesday, after which shares within the firm that made her a billionaire fell sharply.
In a lengthy Facebook post, Sandberg mirrored in broad strokes on her 14 years on the firm and the way a lot it, and the world at massive, have modified.
“The talk round social media has modified past recognition since these early days,” she wrote. “To say it hasn’t all the time been simple is an understatement.”
Sandberg stated she plans to go away the corporate this fall and can stay on the corporate’s board of administrators, however didn’t describe her post-Meta plans in nice element.
In a separate post, CEO Mark Zuckerberg acknowledged Sandberg’s transfer as “the tip of an period” whereas thanking her for basically constructing Fb’s enterprise operations from scratch.
The transfer indicators an enormous inside energy shift at Meta. As Zuckerberg’s prime lieutenant dating back to 2008, Sandberg oversaw a good portion of the corporate’s sprawling – and scandal-prone – each day operations.
That features when Cambridge Analytica, which had ties to President Donald Trump’s 2016 marketing campaign, improperly obtained and used the personal information of as many as 87 million customers.
And the time Fb employed Definers Public Affairs, a Republican opposition analysis agency, to smear billionaire philanthropist and frequent Fb critic George Soros.
And the time Sandberg denied the violent Jan. 6, 2021, rebel on the U.S. Capitol may have been “largely organized” on Fb ― solely to have leaked inside paperwork completely undercut that narrative.
Sandberg’s departure coincides with Meta searching for to reposition itself as a pioneer of what Zuckerberg describes as the “metaverse,” a nascent and considerably ill-defined digital actuality push. (Critics argue that the rebrand has more to do with rehabbing the corporate’s well-earned and horrible public picture.)
To that finish, the brand new title will develop into official on June 9, when its inventory ticker is scheduled to change over from “FB” to “META.”