Sheryl Sandberg resigns as COO of Facebook parent company Meta; here is what she plans to do next

Meta Platforms Inc Chief Operating Officer Sheryl Sandberg has resigned from Facebook after 14 years. Sandberg announced her departure on Facebook, said Fortune Magazine in a tweeter post.  

"In her 14 years with the company, Sandberg changed Facebook’s direction towards monetization, and building a focus on ad-based revenue," said the magazine in another post.  

The announcement by Sheryl Sandberg, whose close partnership with Chief Executive Officer Mark Zuckerberg powered the growth of the world`s biggest social network, initially sent the social media firm`s shares down 4%, but the stock was nearly flat in after hours trade, said a Reuters report.  

"When I took this job in 2008, I hoped I would be in this role for five years. Fourteen years later, it is time for me to write the next chapter of my life," she wrote in a Facebook post on Wednesday.  

Chief Growth Officer Javier Olivan will take over as chief operating officer, Zuckerberg said in a separate Facebook post, although he added that he did not plan to replace Sandberg`s role directly within the company`s existing structure. 

Sandberg announced her departure on Facebook https://t.co/Bix2h96t05

— FORTUNE (@FortuneMagazine) June 1, 2022

"I think Meta has reached the point where it makes sense for our product and business groups to be more closely integrated, rather than having all the business and operations functions organized separately from our products," he said. 

Olivan has worked at Meta for more than 14 years and has led teams handling Facebook, Instagram, WhatsApp and Messenger. 

When asked about her next steps, she told Reuters she was focusing on philanthropy at a "critical moment for women." 

"We`ve hired so many great leaders. I feel really good about that. The next leadership team is in place to take the company forward," she said, mentioning Chief Business Officer Marne Levine and President of Global Affairs Nick Clegg by name. 

A Harvard University graduate, Sandberg is the author of several books, including the 2013 feminist manifesto "Lean In: Women, Work, and the Will to Lead." 

With inputs from Reuters