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Sheryl Sandberg Leaves Meta To Focus on Philanthropy
January 18, 2024
In a recent development at Meta, previously known as Facebook, Sheryl Sandberg, the former chief operating officer (COO) and longstanding board member, disclosed her intentions to step away from the board. Sandberg stated that she will not be seeking re-election when her term ends in May.
Sandberg’s decision to part ways with Meta concludes her stellar 14-year tenure as COO and 12-year stint on the board. After stepping down as COO last fall, she continued to lend her expertise to one of the world’s leading tech giants. During her tenure, Sandberg not only saw the company scale to unprecedented heights but also guided it through periods of intense scrutiny and criticism.
Sandberg plans to devote more time to philanthropic endeavors after she departs from Meta’s board. Yet, she will continue in an advisory capacity, ensuring her insights and experience remain accessible to Meta.
The current leadership team at Meta, led by CEO Mark Zuckerberg, has demonstrated the company’s robust business model and promising future prospects, according to Sandberg. For her, this seems to be the right moment to step back and let the new leadership pave the way forward.
Sandberg’s philanthropic efforts through her organization, Lean In, are noteworthy. She emphasizes empowering women to achieve their professional objectives and promotes a conducive corporate culture. Her book, also named “Lean In,” published in 2013, was instrumental in elevating her to stardom.
Before joining Facebook in 2008, Sandberg had an impressive portfolio that included senior roles at Google, the World Bank, and the Treasury Department under President Bill Clinton. She was already a renowned figure in the tech industry at the time.
In collaboration with Zuckerberg, Sandberg played a critical role in bolstering Facebook’s revenue, which skyrocketed from approximately $150 million in 2007 to over $3.7 billion by 2011, a year prior to its initial public offering (IPO). In 2022, the year she resigned as COO, Meta registered a staggering annual revenue of $116.6 billion, reflecting the company’s remarkable growth story. Furthermore, since its 2012 IPO, Meta’s share price has increased by over 860%.
Sandberg was a key figure in addressing several controversies and challenges faced by the company over the years, ranging from allegations of subverting democracy to endangering teen users. She was instrumental in the company’s significant rebranding from Facebook to Meta in 2021, signifying the company’s ambition to construct an immersive digital world, the metaverse.
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