Meta, Facebook's parent company, will be losing Sheryl Sandberg, who helped grow the firm from a tech startup into a digital advertising behemoth. She announced that she would be stepping down from her position as a board member.
As Sandberg disclosed in a Facebook post about her decision not to seek reelection this May, she expressed her thanks while also recalling fond experiences.
Four years before Facebook's initial public offering, Sandberg departed Google to become part of the social media platform in 2008. She was also heavily criticized for some of Meta's most egregious mistakes while serving as its No. 2 executive under Mark Zuckerberg's leadership, as reported by ABC News.
In 2022, Sandberg resigned as chief operating officer of Meta but continued to serve on the board of directors. For 14 and a half years, she oversaw operations at Facebook and Meta, and for 12 years, she was a board member.
Sandberg said in a statement, "Under Mark's leadership, Javi Olivan, Justin Osofsky, Nicola Mendelsohn, and their teams have proven beyond a doubt that the Meta business is strong and well-positioned for the future, so this feels like the right time to step away." She also confirmed that she would remain an adviser to the business.
CEO of Facebook Mark Zuckerberg walks with COO of Facebook Sheryl Sandberg after a session at the Allen & Company Sun Valley Conference on July 08, 2021 in Sun Valley, Idaho.
Lasting Impression at Meta
In 2007, Facebook's income was about $150 million. According to CNN, Sandberg and Zuckerberg worked together to increase that number to almost $3.7 billion in 2011, the year before Facebook went public. As one of the most powerful women in the tech industry, she also rose to unprecedented heights of fame.
Meta reported yearly sales of $116.6 billion in 2022 when Sandberg resigned as COO. The stock price of the firm has also increased by about 860% since its first public offering in 2012.
As the corporation came under increasing fire for a variety of reasons, including but not limited to allegations that it harms underage users, undermines democracy, and aids genocide, Sandberg was also among the company's senior brass.
In 2021, she was also a part of the team that rebranded Facebook to Meta, reflecting the company's goals of creating a virtual environment termed the "metaverse." Nevertheless, Meta's aggressive expenditure on that initiative caused shareholders to be concerned, which led to significant layoffs last year.
Other Advocacy
In an effort to address what she terms "stubborn gender inequities," Sandberg said last year that her organization would be establishing a girls leadership program. There is an adult resource component to the program in addition to a middle school curriculum.
The Sandberg Bernthal Family Foundation, which Sandberg co-founded with her late husband, Dave Goldberg, is supporting the Lean In Girls leadership program as one of its projects.
