Facebook (FB) COO Sheryl Sandberg to leave company after 14 years

Since 2008, Sheryl Sandberg has been in the Chief Operating Officer (COO) role at Meta (formerly known as Facebook), acting as second-in-command to company CEO and co-founder Mark Zuckerberg. Reportedly, that’s about to change. After nearly a decade of leadership at the company, Sandberg will step down from her COO role at the company. She will, however, still serve on the board of directors for the time being.

The news of Sandberg’s exit from the COO role at Facebook was shared on her personal Facebook on Wednesday, June 1, 2022, as reported by CNBC. According to Sheryl’s post, the reason for her departure is to focus more on philanthropy and her non-profit work such as the Sheryl Sandberg & Dave Goldberg Family Foundation, which aims to assist women in the workplace, as well as help people overcome personal adversity and provide scholarships to a variety of ethnic backgrounds. Even so, Sandberg will still serve on Facebook/Meta’s board of directors as the company aims to have chief growth officer Javier Olivan take over the COO role in fall 2022.

Facebook/Meta (FB) stock took a sharp dip before evening out in after-hours trading on word of Sheryl Sandberg's departure retirement from the COO position at the company.

Sheryl Sandberg went on to say that there was no ill will in her exit from Facebook/Meta and she thanked Mark Zuckerberg and the company for the work they’d done over her 14 year tenure.

Sitting by Mark’s side for these 14 years has been the honor and privilege of a lifetime. Mark is a true visionary and a caring leader. He sometimes says that we grew up together, and we have… 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. And as Tom and I get married this summer, parenting our expanded family of five children. Over the next few months, Mark and I will transition my direct reports and I will leave the company this fall. I still believe as strongly as ever in our mission, and I am honored that I will continue to serve on Meta’s board of directors.

As Meta continues its exodus from the Facebook brand to focus on its metaverse and VR/AR pursuits, it seems Sandberg will move out of her prominent role as a leading force within the company. As Javier Olivan takes over this roll in coming months, stay tuned for further Facebook/Meta coverage here at Shacknews.