Sheryl Sandberg is stepping down as chief operating officer (COO) of Meta Platforms, Inc. (FB). The company, formerly known as Facebook, announced her departure in a press release on June 1, 2022. Javier Olivan, currently chief growth officer, will be the new COO, and will act as a more traditional COO than Sandberg, who had become CEO Mark Zuckerberg's top lieutenant and strategic business advisor. Olivan will focus on entirely on internal operations, looking to make Meta's "execution more efficient and rigorous."
The statement from Zuckerberg indicates that Sandberg will exit her day-to-day management roles over the course of "the upcoming months." It did not disclose her reasons. However, she will remain a member of Meta's board of directors.
- Sheryl Sandberg is leaving her post as chief operating officer (COO) of Meta Platforms, Inc. (FB), formerly known as Facebook.
- Her transition out of day-to-day duties will take place over the upcoming months, but she will retain her seat on Meta's board of directors.
- The announcement from Meta CEO Mark Zuckerberg on June 1, 2022 did not mention why Sandberg is leaving the COO post.
- Zuckerberg credits Sandberg with being a key architect of the success enjoyed by Facebook and Meta.
Zuckerberg Celebrates Sandberg
In his statement, Zuckerberg notes that, when Sandberg joined joined him in 2008, he was only 23 years old and "barely knew anything about running a company." While he believed that the Facebook website was a great product, the company was not profitable business and was "struggling to transition from a small startup to a real organization."
Zuckerberg credits Sandberg with designing Facebook's ads business, hiring quality people, shaping the corporate culture, and teaching him how to run a company. He says that "she deserves the credit for so much of what Meta is today."
Prior to joining the company then known as Facebook, Sheryl Sandberg was vice president of global online sales and operations at the Google division of Alphabet Inc. (GOOGL, GOOG). Before that, she was chief of staff for the United States Department of the Treasury under President Bill Clinton, a management consultant with McKinsey & Company, and an economist with the World Bank.
Sandberg is author or co-author of several books including the New York Times bestselling book about women in the workplace Lean In. Sandberg also is the founder of the Sheryl Sandberg & Dave Goldberg Family Foundation, a nonprofit "that works to build a more equal and resilient world." She serves on the boards of Women for Women International, ONE, and Momentive. Sandberg received a bachelor's degree summa cum laude from Harvard University and a master of business administration (MBA) with highest distinction from the Harvard Business School.