Sheryl Sandberg announced her departure as COO of Meta in her official Facebook post. Sandberg has stated that she will quit her position in the future but stay on Meta’s board for the time being, with Meta’s chief operating officer Javier Olivan stepping over as the company’s new COO.
Why Sheryl Sandberg is leaving Meta?
Sheryl Sandberg claims she was unable to concentrate on philanthropy at Meta: ‘It’s not a job where you can work and do other things at the same time’. The retiring Meta COO, on the other hand, claims she had no idea the “24/7” position would continue 14 years.
She also stated that she had only planned to stay at Meta Facebook for five years, and also that her dedication to the organization had left her with little time for philanthropic initiatives or other personal interests.
Sandberg stated that she will devote more time to her charity and philanthropic activity in the future. “However, I am confident that it will include a greater focus on my foundation and humanitarian work, which is more essential to me than any given how crucial this time is for women,” she stated in the official article. She will remain on the board, as previously stated.
“Mark and I will move my immediate reporting over the following six months, and I will depart the company this fall.” “I still believe in our purpose as passionately as ever, and I am proud to continue to lead on Meta’s board of directors,” Sandberg posted on Facebook.
What are Mark Zuckerberg views about Sheryl Sandberg?
Sandberg’s resignation, according to CEO Mark Zuckerberg, marks the “end of an era.” “After 14 years as COO of Meta, my wonderful friend and colleague Sheryl Sandberg is going to step down,” Zuckerberg announced in a Facebook post. Zuckerberg stated that “Sheryl’s function in our (the) current company” will not be replaced.
“I’m not sure it’s realistic, given that she’s a legend who defined the role of COO in her own special way.” But, even if that were possible, I believe Meta has reached a stage where it makes much more sense for our business and service teams to be more deeply aligned, rather than having all of our business and operational functions structured separately from our products,” he posted on Facebook.
In a Facebook post, Zuckerberg described their 14-year friendship as “deeper than simply business.”
He added, “Sheryl built and designed our advertising model, acquired amazing people, built our strategic plan, and trained me how to run a company.” “It’s exceptional for a business alliance to continue as long as ours has. Because Sheryl is such a wonderful women, leader, partner, and friend, I believe ours did.”
The next Meta COO will be Javier Olivan, but his function will be significantly different from Sandberg’s. “Javi will take over to be our next Chief Operating Officer, overseeing our integrated advertisements and business products as well as our structure, reliability, intelligence, sales, business strategy, and development teams.” This function, however, will be distinct from Sheryl’s. Javi will take on a more typical COO role, focusing on internal and operational issues, building on his outstanding track record of improving our execution efficiency and integrity. Molly Cutler, our Executive vice president Operational Response, will participate Javi’s team and inform to Naomi Gleit as part of this,” Zuckerberg explained the new framework as well as how the business will run until Sandberg departs as COO of Meta soon in the year 2022.
“I’m gon na miss leading this organization with Sheryl,” Zuckerbeg remarked. But I’m delighted she’ll stay on our executive board so we can learn from her knowledge and expertise once she leaves her day-to-day managerial position in the months ahead.”
Who is Sheryl Sandberg?
- Sheryl Kara Sandberg was born in Washington, D.C. on August 28, 1969. She was raised in a Jewish home with two younger siblings. She was two years old when she relocated with her family to North Miami Beach in Florida.
- Before attending Harvard College, she excelled in high school, qualifying with a 4.646 GPA.
- Sandberg achieved her bachelor’s degree in economics from Harvard University in Cambridge, Massachusetts, in 1991, and was the best economics student.
- Sandberg earned a master’s degree in business management from Harvard in 1995.
- Sandberg began her professional career start as a management consultant prior joining the Treasury Department of the United States to work for Secretary of State Larry Sanders.
- Sandberg joined Google, Inc. in 2001 as general manager of its business unit, and in 2004 she was named head of Google.org, the company’s for-profit philanthropic arm, which focused on issues like as global warming, health care, and hunger.
- Sheryl Sandberg has been the chief operating officer of Facebook from 2008, and she has been instrumental in significantly increasing the company’s financial performance.
- Her efforts to establish Facebook as a social media platform for new business advertising resulted in a 21 percent rise in ad revenue to $84.2 billion in 2020.
Sandberg’s legendary friendship with Facebook CEO Mark Zuckerberg is now on the rocks, as per a 2021 book by two New York Times writers.
What is net worth of Sheryl Sandberg?
Sheryl Sandberg is a businesswoman from the United States with a net worth of $1.8 billion. Sandberg is Facebook’s COO (Chief Operating Officer). Her net wealth is usually a consequence of her stock interests in Facebook as well as other firms, and she has been named one of the world’s most powerful people. She previously worked in politics and as a Google executive before joining Facebook.
According to public documents, Sheryl has traded $1.5 billion worth of Facebook stock since the company was acquired in May 2012. She owned 0.06 percent of the shares of a company as of November 2018, which was worth $215 million excluding taxes and fees with a share value of $400 billion at the time. She also has 886,666 options worth $115 million pre-tax, relying on a $400 market worth.
It was revealed in 2013 that she had marketed 2.4 million Facebook shares for $91 million. This accounted for only 5% of her overall Facebook holdings. Sheryl had sold more than 50% of her Facebook shares by 2014, leaving her with approximately 17.2 million total shares. This amounted to a 0.5 percent ownership stake in the corporation, valued at almost $1 billion.
What ‘Lean In,’ by Sheryl Sandberg, Meant to Women?
Sandberg introduced Lean In in 2013, a platform that assists organizations in supporting women and people with oppressed identities. The group is named after Sandberg’s co-authored book “Lean In: Women, Work, and the Will to Lead,” which was published the same year. It seems to be unsure whether Sandberg will pursue a wider aim within the company or forge new routes.
Sandberg posted on Facebook that she originally established a reputation in the company to serve as a model for young women, but that she was unsure if it was “the ideal time to start a new and challenging role” because she had 2 young children at the time.
“The implications were that everywhere women – like I – couldn’t be both a decent mother and a good leader,” she wrote, “but I intended to give it a chance.” “I wanted to help more women think they should and will lead,” she said.
Rather than looking for another corporate job, Sandberg aims to “concentrate on philanthropy” and “carve out bigger reach to do more for women” in the future. “I don’t think I have to tell someone how critical it is right now to focus on supporting women.”