Sheryl Sandberg, the chief operating officer of Meta Platforms, announced in a post on Facebook that, after 14 years, she’s stepping down from her position as its second-ranking executive but will retain a seat on the board. Sandberg will leave her post in the fall after spending the next few months working with founder and CEO Mark Zuckerberg to transition her direct reports.
In a separate Facebook post, Mark Zuckerberg called the change an “end of an era” and said that he doesn’t plan to replace Sandberg’s role in the company’s structure. This will further consolidate power of the company under his control, which he’s shared with Sandberg since she joined the company in 2008 to help its then-23-year-old CEO navigate the path to an IPO.
More recently, Zuckerberg has rebranded the company from Facebook to Meta and is investing heavily in taking its social technology beyond 2D to virtual reality and augmented reality.