Sheryl Sandberg, the former Chief Operating Officer of Meta Platforms, has announced her departure from the company’s board of directors. Javier Olivan will spearhead the role of COO, The Washington Post reported.
“With a heart filled with gratitude and a mind filled with memories, I let the @meta board know that I will not stand for reelection this May. After I left my role as COO, I remained on the board to help ensure a successful transition,” Sheryl Sandberg wrote in a post on Meta-owned social media platform Instagram.
Known for her influential role in shaping Meta, formerly Facebook, into a global tech powerhouse, Sheryl Sandberg will conclude her board term in May 2024. The decision to leave her role follows a 12-year tenure on the board and over 14 years as the Chief Operating Officer of the company.
“Under Mark’s leadership, Javi Olivan, Justin Osofsky, Nicola Mendelsohn, and their teams have proven beyond a doubt that the Meta business is strong and well-positioned for the future, so this feels like the right time to step away. Going forward, I will serve as an advisor to the company, and I will always be there to help the Meta teams,” she added.
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Sheryl Sandberg played a crucial role in Meta’s evolution from when it was a startup to now a dominant force in the digital tech space. Under her leadership, and as reported by Axios, the company witnessed a rise in its revenue, skyrocketing from $272 million in 2008 to nearly $118 billion in 2021. Her strategic direction, particularly in developing Facebook’s advertising model, was instrumental in this growth.
However, Sheryl Sandberg’s exit comes at the time when Mark Zuckerberg-led Meta is undergoing a strategic transformation. The company, facing challenges such as a pandemic-induced advertising slowdown and intense competition, is pivoting towards generative artificial intelligence and virtual reality technologies. This shift represents a significant redirection from its original focus on social media.