Meta COO Sheryl Sandberg is Stepping Down

Sheryl Sandberg the COO of the parent company of Facebook, Meta Platforms Inc, has decided to step down from her role as Chief Operating Officer of the company.

Sandberg joined Facebook in early 2008 second place to Facebook CEO and co-founder Mark Zuckerberg, making Facebook one of the most powerful companies in the advertising juggernaut and technology industry with a market capitalization exceeding $1 trillion at a point.

Javier Olivan, the company's chief growth officer, will be taking over as COO this fall. Sandberg, who informed Zuckerberg of her decision last weekend, will continue to serve on Meta's board.

Mr. Sandberg said the decision to resign would allow her to focus more on philanthropic work. She said the move wasn't due to the company's over-regulation or current advertising slowdown.

In 2013, she published a book named, "Lean In: Women, Work, and the Will to Lead." It explores the challenges women face in the workplace and what they can do to improve their careers. Prior to Facebook, Sandberg worked for the Clinton administration's Treasury Department and joined Google in 2001 to help grow its advertising business.