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HomeTechMeta COO Sheryl Sandberg Says Leaving Firm After 14 Years

Meta COO Sheryl Sandberg Says Leaving Firm After 14 Years

 Chief Working Officer , whose shut partnership with Chief Government Officer powered the expansion of the world’s greatest social community, is leaving the corporate after 14 years, she stated in a Fb publish on Wednesday.

The announcement initially despatched the social media agency’s shares down 4 p.c, however the inventory was almost flat in after hours commerce.

“Once I took this job in 2008, I hoped I might be on this function for 5 years. Fourteen years later, it’s time for me to write down the following chapter of my life,” she wrote.

Chief Development Officer Javier Olivan will take over as chief working officer, Zuckerberg stated in a separate Fb publish, though he added that he didn’t plan to switch Sandberg’s function instantly inside the firm’s current construction.

“I feel Meta has reached the purpose the place it is sensible for our product and enterprise teams to be extra carefully built-in, moderately than having all of the enterprise and operations features organized individually from our merchandise,” he stated.

Olivan has labored at Meta for greater than 14 years and has led groups dealing with Fb, Instagram, WhatsApp and Messenger.

Sandberg’s departure marks an finish of an period for Meta, which is shifting focus towards {hardware} merchandise and the “” after years of scandals over privateness abuses and the unfold of conspiratorial content material on its platforms, in addition to plateauing person development on its flagship app Fb.

The second-in-command to founder Zuckerberg, who was 23 years outdated when he employed her, Sandberg is without doubt one of the most seen executives on the firm and the lead architect of its often-criticized ads-based enterprise mannequin.

Bringing administration expertise and data of the then-nascent digital adverts business, she remodeled Fb from a buzzy startup right into a income behemoth, whereas additionally positioning herself because the face of feminism in company America.

On the time, Fb was making $272 million (roughly Rs. 2,100 crore) in income, for a web lack of $56 million (roughly Rs. 430 crore), in accordance with regulatory filings. By 2011, a yr earlier than the corporate’s preliminary public providing, its income had shot to $3.7 billion (roughly Rs. 28,700 crore) on $1 billion (roughly Rs. 7,800 crore) in income.

Meta ended 2021 with income of $118 billion (roughly Rs. 9,15,600 crore) and earnings of $39.4 billion (roughly Rs. 3,05,700 crore).

Sandberg stated in her publish that she’s going to proceed to serve on Meta’s board after leaving the corporate within the fall.

When requested about her subsequent steps, she advised Reuters she was specializing in philanthropy at a “crucial second for girls.”

“We have employed so many nice leaders. I really feel actually good about that. The subsequent management crew is in place to take the corporate ahead,” she stated, mentioning Chief Enterprise Officer Marne Levine and President of World Affairs Nick Clegg by title.

Staunch defender

Sandberg has been a staunch defender of Fb over the course of its many controversies, constantly arguing that executives had been studying from their errors and honing the corporate’s instruments to raised police in opposition to dangerous content material.

She advised Reuters final yr that she and Zuckerberg had a duty to repair programs that had failed, whereas rejecting experiences that she was shedding energy on the firm.

“Individuals love headlines about company drama, and I feel it is truthful to say they significantly love headlines about sidelining girls,” she stated within the January 2021 interview.

Sandberg’s tenure lined each Fb’s authentic settlement with the US Federal Commerce Fee in 2011 for privateness violations and a subsequent blockbuster $5 billion (roughly Rs. 38,800 crore) settlement for violations of the sooner deal.

She and Zuckerberg had been amongst people who then-Commissioner Rohit Chopra stated ought to have confronted extra investigation for his or her roles within the firm’s habits.

Underneath her management, the corporate was buffeted by revelations in 2018 that  consultancy Cambridge Analytica had improperly acquired information on thousands and thousands of its US customers to focus on election promoting.

The identical yr, UN human rights investigators stated the usage of Fb had performed a key function in spreading hate speech that fueled violence in opposition to the Rohingya neighborhood in Myanmar.

She courted further criticism when she advised Reuters early final yr she believed occasions across the January 6 assault on the US Capitol had been largely organized on different platforms, though researchers had recognized related exercise on Fb as effectively.

Whistleblower Frances Haugen late final yr accused the social media big of repeatedly prioritizing revenue over clamping down on hate speech and misinformation, and stated her attorneys had filed not less than eight complaints with the US Securities and Alternate Fee.

Previous to becoming a member of Fb, Sandberg was vp of World On-line Gross sales and Operations at and chief of employees for the USA Treasury Division underneath former President Invoice Clinton.

A Harvard College graduate, Sandberg is the writer of a number of books, together with the 2013 feminist manifesto “Lean In: Girls, Work, and the Will to Lead.”

© Thomson Reuters 2022



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