The woman credited with making Facebook one of the most valuable technology companies in the world has announced her departure in a lengthy post.
Meta’s chief operating officer, Sheryl Sandberg, has announced that she will leave the company after 14 years working alongside CEO Mark Zuckerberg.
Formerly known as Facebook, Inc., the social media giant owns several platforms such as Facebook, Instagram and WhatsApp.
Sandberg, 52, who has a net worth of $ 1.6 billion ($ 2.2 billion), announced the news in a lengthy Facebook post in which he said he would remain a member of Meta’s board of directors.
“When I accepted this job in 2008, I hoped to be in this position for five years. Fourteen years later, it’s time to write the next chapter of my life, “he wrote.
“I’m not entirely sure what the future holds; I’ve learned that no one ever is.”
Ms. Sandberg joined the company more than a decade ago, when the social media platform was still in its infancy.
Throughout her tenure, Sandberg has been praised for helping the company achieve its initial public offering in 2012. During her time at the company, she has also written two books, including the bestseller. Lean In: Women, Work, and Willingness to Lead as well as Option Bwho co-authored with Adam Grant.
Announcing his departure, Mrs Sandberg praised Mr Zuckerberg, 38, immensely, calling him one of his “best friends”.
“Sitting next to Mark for these 14 years has been the honor and privilege of a lifetime,” he wrote.
“Mark is a true visionary and a supportive leader. Sometimes he says we grew up together and we did.”
Talking to him New York Posttechnology analyst Dan Ives said Ms Sandberg “couldn’t have left at a worse time” as the company tries to launch a set of virtual reality metavers products.
“She’s leaving just as Facebook is transitioning to metavers, though revenue won’t come in three or five years,” he said.
He also noted that Ms. Sandberg was seen as someone who assured Zuckerberg not to act on impulse in times of crisis.
Since its announcement, Meta shares have fallen more than 3 percent before recovering slightly to close at 2.6 percent.
Zuckerberg also praised Ms. Sandberg, calling her departure “the end of an era.”
“It’s unusual for a business association like ours to last so long. I think ours did it because Sheryl is such an amazing person, leader, partner and friend,” she wrote.
“I am sad that the day will come when I will not work so closely with Sheryl. But more than anything, I am grateful for all she has done to build Meta.
“She’s done a lot for me, for our community and for the world, and we’re all better for it.”
Sandberg, who will be leaving the company in the coming months, will be replaced by Meta’s director of growth, Javier Olivan.