Sheryl Sandberg will leave Facebook after 14-day tenure but she will remain a board member of the company. Sandberg joined Facebook in 2008 when it was just a startup and she played a formative role in the development of Facebook as a multi-billion dollar company. She’s leaving the company when it is facing an uncertain future and fierce competition.
• Sheryl Sandberg leaving Facebook after 14 years of service
• She drew fire over probing the billionaire investor, George Soros
• Mark Zuckerberg said Sandberg was there for many of the important moments in his life
• The next COO of Facebook would be different from the status Sandberg held
Who Is Sheryl Sandberg?
A Harvard-educated, 52-year-old Sheryl Sandberg was the second most powerful executive on Facebook. She joined the company when it was just four years old and Zuckerberg acknowledged her help in running a company when he was just 23 and barely knew anything about running a firm.
Sandberg became a household name after writing the book “Lean In: Women, Work, and the Will to Lead.” Published in 2013, the book encouraged women to “lean in” to their careers to overcome workforce obstacles.
In 2015, Sandberg was saddened due to the sudden demise of her husband, US tech executive David Goldberg, at an upscale resort in Mexico. But she managed to bring her life back to normal by engaging with marketing executive Tom Bernthal two years ago.
Why Is Sandberg Leaving Facebook?
Sandberg was long seen as the “adult’ at the youthfully managed firm and Facebook was increasingly seen as a place for older people. Also, she was in a center of controversy over her role in pushing back at criticism of Facebook.
Sandberg even asked her staff to conduct research on the Hungarian-born billionaire, George Soros, for his remark over the social media giant. He once assailed the online network as a “menace to society.” She probed him despite knowing that Facebook would profit from a decline in shares from his short-term investment in the company.
But Creative Strategies analyst Carolina Milanesi has a different assessment of her decision. Milanesi said Zuckerberg thought he had outgrown her. It felt like the relationship was no longer needed or working, maintained Milanesi on Zuckerberg’s farewell to Sandberg.
What Next For Facebook?
Javier Olivan has been made Meta’s chief operating officer with a promise to re-shape the role Sandberg held at Facebook. Zuckerberg said that the next COO would be more traditional and different from the close second-in-command status in the company.
Sandberg’s exit had an immediate effect on Meta’s shares which fell more than 2% on breaking of the news of her exit. This blow comes at a time when the company’s stocks are already plummeting amid worries that its regular growth was near an end.