Sheryl Sandberg, No. 2 at Meta, the parent company of Facebook, quits after 14 years

Sheryl Sandberg (Reuters)

“After 14 years, I’ll be left dead,” he announced on Facebook on Wednesday. Sheryl SandbergCOO of the US social media giant, who will remain on the company’s board of directors. His close collaboration with CEO Mark Zuckerberg led to the platform’s growth.

“When I accepted this job in 2008, I expected to stay in this position for five years. Fourteen years later, it was time to write the next chapter of my life. The announcement sent the social media company’s shares down 4% at first, but in trading The suffix, circulated almost steadily.

Zuckerberg reported that chief growth officer, Javier Olivian, will take over as chief operating officer, although he added that he does not plan to replace Sandberg’s role directly within the company’s current structure. Olivan has been at Meta for over 14 years and leads teams that run Facebook, Instagram, WhatsApp and Messenger.

Sandberg’s departure marks the end of the Meta erathat Shifting its focus to hardware products and the “metaverse” After years of scandals about privacy violations and the spread of conspiracy content on its platforms, as well as stagnating user growth on the flagship Facebook app.

Sandberg, Zuckerberg’s second-in-command who was 23 when he hired her, She is one of the company’s most prominent executives and the principal architect of its business modelwhich is often criticized, based on advertisements.

(Getty Images)
(Getty Images)

Through his management experience and knowledge of the then emerging digital advertising industry, Transform Facebook from a startup into a revenue giantwhile positioning itself as a file feminist face in American companies.

At the time, Facebook’s revenue was $272 million, with a net loss of $56 million, according to regulatory filings. In 2011, the year before the company’s initial public offering, its revenue jumped to $3.7 billion on $1 billion in earnings.

Meta ended 2021 with revenues of $118 billion and profits of $39.4 billion.

Sandberg, who has long been seen as the “mature” of the youth-run company, has found herself at the center of the controversy for her role in responding to the social media giant’s criticism.

It has been criticized in particular for an embarrassing attempt to investigate George Soros, a billionaire investor, after he attacked the Internet as a “threat to society”. Facebook acknowledged that Sandberg asked its employees to investigate the Hungarian-born billionaire following his comments, fearing he was holding a “short” position that would benefit from the stock drop.

Among the tech geniuses, Sandberg has made a steadier hand as a result of his experience working with former US Treasury Secretary Larry Summers and the philanthropic arm of Google.

Sandberg testifies before the US Congress (AFP)
Sandberg testifies before the US Congress (AFP)

In 2015, Sandberg was devastated by the sudden death of her husband, US technology executive David Goldberg, at a luxury resort in Mexico.

Sandberg said in his letter that You will remain part of the Meta Board of Directors After leaving the company in the fall.

When asked about his next steps, he said Reuters who – which He was focusing on philanthropy at a “critical time for women”.

We have hired many great leaders. I feel good about it. The incoming management team is ready to move the company forward,” he said, referring to Chief Business Officer Marne Levine and Head of Global Affairs Nick Clegg by name.

The Meta economic model, which is based on large-scale targeted ads that require a lot of personal data, has sparked controversy after controversy since 2016.

Many authorities accuse him of abusing a dominant position, like his neighbor Google, the global leader in digital advertising.

(With information from Reuters, EFE and AFP)

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