CEO Mark Zuckerberg of Facebook parent company Meta Platforms calls the resignation of operational director Sheryl Sandberg “the end of an era”. The 52-year-old American, the number two of Meta, has been known for years as one of the driving forces behind the business success of the social media group.
Commenting on her departure, Zuckerberg points out that it was Sandberg who taught him how to run a business. Sandberg joined Facebook in 2008 when Zuckerberg was only 23 years old. He says that he and his wife Priscilla Sandberg have also been a good friend for years.
Sandberg was widely regarded as the business genius behind the company that generated nearly $120 billion in sales last year. In addition to Zuckerberg, she was also the main face of the company. She has often publicly defended Facebook when the company has been criticized for not doing enough to fight hate speech, racism and fake news.
Philanthropic foundation
In her own words, Sandberg wants to free up more time for work for her philanthropic foundation, hence her decision. She will not leave Meta completely but will continue to hold a seat on the board after her step back later this year.
Her successor will be Javier Olivan, who currently leads the growth efforts of the company, which also includes Messenger, Instagram and Whatsapp. Despite the fact that Sandberg’s successor is no stranger, investors were shocked on Wednesday by the impending changing of the guard. Meta Platforms lost almost 3 percent in market value on Wall Street after the announcement.
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