MENLO PARK, CA (CelebrityAccess) – Sheryl Sandberg is leaving her role as Chief Operating Officer at Meta, the company formerly known as Facebook (FB).
Sandberg, known for being a pioneer for women in business, joined FB in 2008 as the No. 2 in charge – behind co-founder and CEO Mark Zuckerberg. Since that time, CNBC reports that she turned FB into one of the most powerful companies within the tech industry, with a market cap topping $1 trillion during that time.
“Over the next few months, Mark and I will transition my direct reports,” Sandberg said in a FB post discussing stepping down. Meta is also planning an internal reorganization to go along with the change, Zuckerberg said.
Meta’s Chief Growth Officer (CGO), Javier Olivan will take over as COO this fall.
Speaking with CNBC, Sandberg said the decision to step down will allow her to focus more on her philanthropic work. The move is not because of the company’s regulatory overhang or its current advertising slowdown, she said.
Before FB, Sandberg served in the Treasury Department of the Clinton administration, then joined Google in 2001.