Sheryl Sandberg, the chief operating officer of Meta, the parent company of Facebook, has announced her departure after 14 years with the firm.
In a Facebook post, Ms. Sheryl Sandberg announced her retirement, saying she planned to devote her time to her foundation and philanthropic efforts in the future.
Her departure comes as Meta experiences a drop in ad sales and faces increased competition from rivals like TikTok.
Ms. Sheryl Sandberg is one of the most well-known female executives in the IT business.
Ms. Sandberg, the company’s influential second-in-command, wrote, “When I joined this job in 2008, I hoped I would be in this role for five years.” “It’s time for me to write the next chapter of my life, fourteen years later.”
Ms. Sandberg’s role in the company will be taken over by Javier Olivan, who is currently Meta’s chief growth officer.
Ms. Sandberg is remarrying this summer after her spouse died unexpectedly in 2015. She stated that she would leave the company in the fall but would stay on the board of directors.
Meta’s stock dropped 4% when she made her announcement.
Ms. Sandberg joined Facebook while the company was still a small startup founded by Mark Zuckerberg, a 23-year-old Harvard dropout at the time.
She was a Google veteran who helped turn the company’s advertising division into a profit machine as it expanded to encompass Instagram, WhatsApp, and Messenger.
Last year, the business reported revenue of more than $117 billion and claimed that more than 2.8 billion individuals around the world utilized one of its apps on a regular basis.
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