- Meta Platforms (NASDAQ:FB) COO Sheryl Sandberg is stepping down.
- However, she’ll remain on the company’s Board of Directors.
- Replacing her is chief growth officer Javier Olivan.
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Meta Platforms (NASDAQ:FB) stock is in the news today as investors react to the news of COO Sheryl Sandberg stepping down.
Sandberg has been serving as the COO of Meta Platforms, formerly Facebook, since 2008. Her time in the role has involved her in the massive growth the company has seen over the last 14 years.
While Sandberg will no longer act as the COO of Meta Platforms, she isn’t leaving the company entirely. Instead, she plans to continue serving on the social media and advertising giant’s Board of Directors.
With Sandberg leaving the COO role, Meta Platforms has already named Javier Olivan as the next person to fill it. He currently serves as the chief growth officer of the company. However, Mark Zuckerberg, founder and CEO of Meta, said Olivan won’t be in the same position as Sandberg.
Here’s what Zuckerberg had to say about that in a Facebook post.
“But this role will be different from what Sheryl has done. It will be a more traditional COO role where Javi will be focused internally and operationally, building on his strong track record of making our execution more efficient and rigorous. As part of this, Molly Cutler, our VP Strategic Response, will join Javi’s team and report to Naomi Gleit.”
So what does Sandberg plan to do after leaving the COO role at Meta Platforms? She intends to focus more on her philanthropic efforts, reports CNBC.
FB stock is up 1% as of Thursday morning.
Investors seeking more stock market news are in the right place!
We’ve got all the hottest stock news that traders need to know about for Thursday! Among that is what’s happening with GameStop (NYSE:GME) and UiPath’s (NYSE:PATH), as well as this morning’s biggest pre-market stock movers. You can read all of that news at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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