Sheryl Sandberg, chief operating officer of Facebook’s parent company Meta, said in a Facebook post on Wednesday that she was leaving the company after 14 years. Previously, she worked closely with Meta CEO Mark Zuckerber to drive the growth of the world’s largest social network.
Her departure announcement dragged Meta shares down 4%. Sandberg, one of Meta’s most high-profile executives, has long been a staunch defender of the company’s business model and its founder, Zuckerberg.
“When I took the job in 2008, I wished I had been in the position for five years. After 14 years, it’s time for me to write a new chapter in my life,” Sandberg wrote.
She said she’s not sure what her future holds, but plans to focus on her foundation and charitable work. After leaving Meta this fall, she will continue to serve on the company’s board. Before joining Facebook, Sandberg was vice president of global online sales and operations at Google, chief of staff at the U.S. Treasury during the Clinton administration, a management consultant to McKinsey & Company, and an economist at the World Bank.
In a separate Facebook post, Zuckerberg said chief growth officer Javier Olivan would take over as chief operating officer. Olifan has been with Meta for over 14 years and has led teams across Facebook, Instagram, WhatsApp and Messenger. Zuckerberg added, however, that he does not intend to directly replace Sandberg’s role in the company’s existing structure.
“I think Meta has reached a point where our product and business units should be more closely integrated, rather than organizing all of our business and operational functions separately from our product,” Zuckerberg said.
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