New York
CNN
—
Former longtime Meta chief working officer Sheryl Sandberg is not going to stay on the corporate’s board after her time period ends in Could, she mentioned in a Fb submit Wednesday.
“With a coronary heart stuffed with gratitude and a thoughts stuffed with reminiscences, I let the Meta board know that I cannot stand for reelection this Could,” Sandberg mentioned within the submit.
Sandberg’s exit comes after she spent greater than 14 years as the corporate’s chief working officer, along with 12 years on its board. Sandberg stepped down from her COO position within the fall of 2022, marking the tip of a exceptional tenure throughout which she helped develop one of many world’s most influential firms and in addition noticed it by means of vital criticism.
Sandberg mentioned in her submit that she could be leaving the Fb guardian firm’s board to focus extra on philanthropic work however added that she would proceed to function an advisor to Meta.
Sandberg added in her submit that Meta’s present management workforce below CEO Mark Zuckerberg “have confirmed past a doubt that the Meta enterprise is powerful and well-positioned for the long run, so this looks like the precise time to step away.”
“Thanks Sheryl for the extraordinary contributions you’ve made to our firm and neighborhood over time,” Zuckerberg mentioned in a touch upon her submit. “Your dedication and steering have been instrumental in driving our success and I’m grateful on your unwavering dedication to me and Meta over time.”
Sandberg’s work through her philanthropic group, Lean In, is targeted on serving to ladies obtain their targets throughout the office and company tradition, and her e-book of the identical title helped propel her to celeb when it was revealed in 2013.
Sandberg was already a high-profile determine within the tech business when she joined the corporate, then referred to as Fb, in 2008, having been Google’s vice chairman of world on-line gross sales and operations. Previous to Google, she had held senior roles on the World Financial institution and the Treasury Division below President Invoice Clinton.
In her early years at Fb, she was also known as the ”adult supervision” for a corporation run by a really younger founder.
In partnership with Zuckerberg, Sandberg helped develop Fb’s income from roughly $150 million in 2007 to greater than $3.7 billion in 2011, the yr earlier than it went public. She additionally gained new prominence as one of the crucial influential ladies in tech.
In 2022, the yr Sandberg stepped down as COO, Meta posted whole annual income of $116.6 billion. And the corporate’s share worth has gained greater than 860% since its 2012 IPO.