Meta Platforms COO Sheryl Sandberg is leaving the world’s biggest social network after 14 years of service amid its shift to new business areas.
“When I took this job in 2008, I hoped I would be in this role for five years. Fourteen years later, it is time for me to write the next chapter of my life,” she said in a Facebook post.
Chief Growth Officer Javier Olivan will take over as chief operating officer, Meta Platforms announced.
Meta Platforms CEO Mark Zuckerberg said in a separate Facebook post that he did not plan to replace Sandberg’s role directly within the company’s existing structure.
“I think Meta has reached the point where it makes sense for our product and business groups to be more closely integrated, rather than having all the business and operations functions organized separately from our products,” he said.
Javier Olivan has worked at Meta for more than 14 years and led teams handling Facebook, Instagram, WhatsApp and Messenger.
Sheryl Sandberg’s departure marks an end of an era for Meta, which is shifting focus toward hardware products and the metaverse after years of scandals over privacy abuses and the spread of conspiratorial content on its platforms, as well as plateauing user growth on its flagship app Facebook, Reuters news report said.
The second-in-command to founder Mark Zuckerberg, who was 23 years old when he hired her, Sheryl Sandberg is one of the most visible executives at the company and the lead architect of its often-criticized ads-based business model.
At the time, Facebook was making $272 million in revenue, for a net loss of $56 million, according to regulatory filings. By 2011, a year before the company’s initial public offering, its revenue had shot to $3.7 billion on $1 billion in profits.
Meta ended 2021 with revenue of $118 billion and earnings of $39.4 billion.
Prior to joining Facebook, Sheryl Sandberg was vice president of Global Online Sales and Operations at Google and chief of staff for the United States Treasury Department under former President Bill Clinton.