Facebook top woman Sheryl Sandberg has announced that she is stepping down as Director of Operations. She made that announcement in a post on the social medium. For years, the 52-year-old Sandberg was a key driver of the tech giants business success. She was known as the companys No. 2, after founder Mark Zuckerberg.
Sandberg came over from Google in 2008, which was four years before Facebook became a publicly traded company. She was considered the business genius behind the venture and she was the main face of Facebook alongside Zuckerberg.
She has fully led the advertising branch of the parent company Facebook, which is now called Meta Platforms. Last year, under its leadership, Facebook accounted for nearly 120 billion dollars in sales.
“End of an Era”
“When I took this position, I assumed that I would stay in this role for five years,” she writes. “Fourteen years later, its time to write the next chapter of my life.” She is not leaving the company completely, she will still have a seat on the board of Meta.
Chief executive Zuckerberg calls Sandbergs resignation “the end of an era”. He states that it was she who taught him how to run a company. She joined Facebook when Zuckerberg was only 23 years old. He says he and his wife consider Sandberg to be a close friend.
Javier Olivan succeeds Sandberg as Director of Operations. According to Zuckerberg, his role will be different from Sandbergs and Olivan will focus more on internal affairs.
The resignation led to losses to Meta Platforms on Wall Street. The company lost almost 3 percent in value after the announcement.