https://www.cnbc.com/2022/06/01/facebook-coo-sheryl-sandberg-says-she-is-stepping-down.html Skip Navigation logo * watchlive logo Markets * Pre-Markets * U.S. Markets * Currencies * Cryptocurrency * Futures & Commodities * Bonds * Funds & ETFs Business * Economy * Finance * Health & Science * Media * Real Estate * Energy * Climate * Transportation * Industrials * Retail * Wealth * Life * Small Business Investing * Invest In You * Personal Finance * Fintech * Financial Advisors * Options Action * ETF Street * Buffett Archive * Earnings * Trader Talk Tech * Cybersecurity * Enterprise * Internet * Media * Mobile * Social Media * CNBC Disruptor 50 * Tech Guide Politics * White House * Policy * Defense * Congress * Equity and Opportunity CNBC TV * Live TV * Live Audio * Business Day Shows * The News with Shepard Smith * Entertainment Shows * Full Episodes * Latest Video * Top Video * CEO Interviews * CNBC Documentaries * CNBC Podcasts * CNBC World * Digital Originals * Live TV Schedule Watchlist Investing Club * Newsletter * Morning Meeting * Trade Alerts * Trust Portfolio PRO * Pro News * Pro Live * Subscribe * Sign In Menu * Make It * USA * INTL * watchlive Search quotes, news & videos Watchlist SIGN IN logo Markets Business Investing Tech Politics CNBC TV Watchlist Investing Club PRO Menu Tech Facebook parent Meta COO Sheryl Sandberg is stepping down Published Wed, Jun 1 20223:37 PM EDTUpdated 49 Min Ago thumbnail Jessica Bursztynsky@jbursz thumbnail Matt Rosoff@mattrosoff WATCH LIVE Key Points * Sheryl Sandberg is stepping down from her role as Chief Operating Officer at Meta, the company formerly known as Facebook. * Sandberg joined Facebook in early 2008 as the No. 2 to Facebook CEO and co-founder Mark Zuckerberg. * Javier Olivan, the company's chief growth officer, will take over as COO this fall. Sandberg will continue to serve on Meta's board of directors. In this article * FB VIDEO1:3801:38 Meta COO Sheryl Sandberg leaving company in the fall Closing Bell Sheryl Sandberg is stepping down from her role as Chief Operating Officer at Meta, the company formerly known as Facebook. Sandberg joined Facebook in early 2008 as the No. 2 to Facebook CEO and co-founder Mark Zuckerberg, and helped turn Facebook into an advertising juggernaut and one of the most powerful companies in the tech industry, with a market cap that topped $1 trillion at one point. Javier Olivan, the company's chief growth officer, will take over as COO this fall. Sandberg, who informed Zuckerberg of her decision this past weekend, will continue to serve on Meta's board of directors. "Over the next few months, Mark and I will transition my direct reports," Sandberg said in a lengthy Facebook post discussing stepping down. Meta is also planning an internal reorganization to go along with the change, Zuckerberg said. "Looking forward, I don't plan to replace Sheryl's role in our existing structure. I'm not sure that would be possible since she's a superstar who defined the COO role in her own unique way," Zuckerberg said in a Facebook post. VIDEO5:3705:37 Sandberg could be running for office, says top Meta watcher Fast Money "But even if it were possible, I think Meta has reached the point where it makes sense for our product and business groups to be more closely integrated, rather than having all the business and operations functions organized separately from our products," he said. Meta has come under fire in recent years for its massive influence, its lack of success in stopping the spread of misinformation and harmful material, and its acquisitions of one-time rivals like Instagram and WhatsApp. Zuckerberg and other execs have been forced to testify before Congress multiple times in the last three years, although Sandberg has largely escaped that spotlight. The company currently faces an antitrust lawsuit from the Federal Trade Commission and could see scrutiny from other agencies like the Securities and Exchange Commission after a whistleblower filed a complaint about its efforts to combat hate on its platform. Speaking with CNBC's Julia Boorstin, Sandberg said the decision to step down will allow her to focus more on her philanthropic work. The move is not because of the company's regulatory overhang or its current advertising slowdown, she said. Sandberg leveraged her success with Facebook to elevate her own profile, especially among women in the workplace. In 2013, she released the book "Lean In: Women, Work, and the Will to Lead," focusing on the challenges women face in the workplace and what they can do to advance their careers. In 2015, she was faced with the unexpected death of her husband Dave Goldberg, who suffered cardiac arrhythmia and collapsed on a treadmill. Sandberg has spoken at length about dealing with the grief of Goldberg's passing, and in 2017, she released a book titled "Option B" centered around the topic. Prior to Facebook, Sandberg served in the Treasury Department of the Clinton administration, then joined Google in 2001 and helped grow its advertising business. logoTV WATCH LIVElogoWATCH IN THE APP UP NEXT | ETListen logoTV WATCH LIVElogoWATCH IN THE APP UP NEXT | ETListen logo * Subscribe to CNBC PRO * Licensing & Reprints * CNBC Councils * Supply Chain Values * CNBC on Peacock * Advertise With Us * Join the CNBC Panel * Digital Products * News Releases * Closed Captioning * Corrections * About CNBC * Internships * Site Map * Podcasts * Ad Choices * Careers * Help * Contact * * * * * * * News Tips Got a confidential news tip? We want to hear from you. Get In Touch CNBC Newsletters Sign up for free newsletters and get more CNBC delivered to your inbox Sign Up Now Get this delivered to your inbox, and more info about our products and services. Privacy Policy|Do Not Sell My Personal Information|CA Notice|Terms of Service (c) 2022 CNBC LLC. All Rights Reserved. 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