Sheryl Sandberg, a powerful member of the global tech world, is leaving Meta (Facebook) after 14 years,
She will continue to serve on Meta’s board of directors.
Her departure comes at a critical time for founder Mark Zukerberg and the social media platform, with slowing advertising revenue growth.
Insider Intelligence principal analyst Debra Aho Williamson: ""Sheryl Sandberg had an enormous impact on Facebook, Meta, and the broader business world. She helped Facebook build a world-class ad-buying platform and develop groundbreaking ad formats, which enabled the company to become the second largest digital ad business in the world behind Google.
"However, Facebook also faced huge scandals under her watch, including the 2016 election, the Cambridge Analytica privacy debacle in 2018, and the Capitol riots that took place after the 2020 election. And in 2022.
"Meta is facing a slowdown in user growth and ad revenue that is now testing the business foundation that the company was built on. The company needs to find a new way forward, and perhaps this was the best time for Sandberg to depart."
The chief operating officer announced the move on her Facebook page.
"Sitting by Mark’s side for these 14 years has been the honour and privilege of a lifetime," she says.
"Mark is a true visionary and a caring leader. He sometimes says that we grew up together, and we have.
"He was just 23 and I was already 38 when we met, but together we have been through the massive ups and downs of running this company, as well as his marriage to the magnificent Priscilla, the sorrow of their miscarriages and the joy of their childbirths, the sudden loss of Dave (her late husband), my engagement to Tom, and so much more.
"In the critical moments of my life, in the highest highs and in the depths of true lows, I have never had to turn to Mark, because he was already there.
"I am beyond grateful to the thousands of brilliant, dedicated people at Meta with whom I have had the privilege of working over the last 14 years.
"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.
"I am not entirely sure what the future will bring – I have learned no one ever is. But I know it will include focusing more on my foundation and philanthropic work, which is more important to me than ever given how critical this moment is for women."
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