Former COO Sheryl Sandberg Says She Is Leaving Meta Platform's Board — Zuckerberg Lauds Her 'Extraordinary' Contributions
Portfolio Pulse from Ananya Gairola
Sheryl Sandberg, former COO of Meta Platforms Inc. (META), is leaving the company's board and will not seek re-election in May. She will continue as an adviser to Meta. CEO Mark Zuckerberg praised her contributions, which were pivotal in Meta's growth in digital advertising, leading to $117 billion in revenue in 2022. Sandberg's departure follows her stepping down as COO in June 2022, succeeded by Javier Olivan. Meta's board expansion continues, and the company has funded Sandberg's security until June 2023.
January 18, 2024 | 1:09 am
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Sheryl Sandberg's departure from Meta's board marks the end of her official roles at the company but she will stay on as an adviser. CEO Zuckerberg's positive remarks reflect her significant impact on the company's growth.
Sandberg's departure from the board is a significant event given her past contributions, but since she is staying on as an adviser and her operational role had already ended in June 2022, the short-term impact on META's stock is likely to be neutral. The market has likely already adjusted to her reduced role, and the company's ongoing efforts to expand the board suggest a focus on future growth and governance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80