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Thursday, October 6, 2022

Sheryl Sandberg Steps Down As CEO From Meta In Surprising Move

Sheryl Sandberg, who helmed Facebook’s growth into a trillion-dollar company but had faded into the background with the launch of Meta, has announced her retirement from the company. On Wednesday she said she was leaving the company’s new avatar, Meta, this fall. Meta also owns WhatsApp, Instagram, and Messenger.

Mark Zuckerberg hired Sheryl Sandberg from Google in 2008 giving her charge to scale Facebook’s operations on a global scale. She had then gushed at the prospect of helping a young company transform into a worldwide leader, saying it was a lifetime opportunity. She was 38 then, and Zuckerberg was only 23.

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The Facebook founder has been taking the networking site on a new path, a world of immersive online experience, the metaverse, renaming the company in the process. The change coincided with Sheryl Sandberg adopting a low profile as Zuckerberg took over more responsibilities and has restructured Meta for its fresh chapter.  

Sheryl Sandberg Will Remain On the Board Of Directors At Meta

Sheryl Sandberg disclosed her decision to leave Meta in an interview, mentioning that she had initially come in to stay for only 5 years instead of the 14 years that she stayed back. She had earlier conveyed the news to Zuckerberg through a phone call. She will now concentrate on her philanthropic work through her foundation, Lean In. She will also be marrying producer Tom Bernthal this summer.

Sheryl Sandberg continues to be on the board of directors at Meta while her role as the chief operating officer will be taken over by Products Executive Javier Olivan, who for a long time has overseen the company’s growth in the last decade.

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Sheryl Sandberg earlier served as Treasury Secretary Lawrence Summers’ chief of staff during the Bill Clinton era. She joined Google and help build its nascent targeted advertising business, transforming it into a multi-billion dollar behemoth.

Zuckerberg posted on Facebook, praising Sheryl Sandberg, and mentioning that the partnership has lasted an unusually long time.

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