Sheryl Sandberg is stepping down as the chief operating officer (COO) of Facebook parent company Meta after 14 years.
In a Facebook post on June 1, Sandberg announced that she will leave the company this fall without disclosing the reason for her departure.
Sandberg, 52, said that she planned to focus on her foundation and philanthropic work going forward.
“I am beyond grateful to the thousands of brilliant, dedicated people at Meta with whom I have had the privilege of working over the last 14 years,” Sandberg wrote in the post.
Sandberg, one of the most high-profile women in the tech industry, will continue to serve on the company’s board of directors.
In a separate Facebook post, Meta Chief Executive Officer Mark Zuckerberg said that Chief Growth Officer Javier Olivan will take over as COO.
“But this role will be different from what Sheryl has done. It will be a more traditional COO role where Javi will be focused internally and operationally, building on his strong track record of making our execution more efficient and rigorous,” Zuckerberg wrote.
Sandberg’s departure comes as Meta faces a slowdown in advertising rales and more competition from rivals, including TikTok.
Shortly after Sandberg’s announcement, shares in Meta fell 4%, according to BBC News.
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