Meta board member and former chief operating officer Sheryl Sandberg announced in a Facebook post Wednesday that she will leave the company’s board of directors after serving for more than a decade, marking another intra-company transition for the billionaire, who said she will continue working for Meta as an adviser.
Sandberg joined Meta in 2008 (Photo by Lino Mirgeler / dpa / AFP) / Germany OUT (Photo credit ... [+]
Sandberg, who was the company’s chief operating officer from 2008 to 2022, said she won’t stand for board reelection in May.
The Meta veteran will serve as an adviser after leaving the board, adding in her post that it “feels like the right time to step away.”
Sandberg thanked Meta CEO Mark Zuckerberg and fellow board members for their partnership and received a thank you in return from Zuckerberg, who recognized her contributions to Meta.
Sandberg served as a board member for 12 years.
We estimate Sandberg’s net worth at $1.9 billion, ranking her No. 17 on Forbes’ list of America’s richest self-made women.
More than 90%. That’s the share of Sandberg’s Meta stock she unloaded between 2013 and 2022, when she had sold more than $1.8 billion worth of Meta stock to date.
Sandberg, 54, served as the general manager of Google’s business unit prior to joining Meta, overseeing advertisement placements on search result pages and websites that had contracts with Google. She later took charge of Google’s for-profit philanthropy arm in 2004. The American executive later became Meta’s first chief operating officer, joining the company in 2008, when it was known as Facebook. Sandberg, an advocate for women in business, later authored the book “Lean In: Women, Work, and the Will to Lead” in 2013. She stepped down from her role as chief operating officer in 2022 to focus on philanthropic work.
Sheryl Sandberg to Leave Meta Platforms Board After 12 Years (WSJ)
Billionaire Sheryl Sandberg Has Unloaded More Than 90% Of Her Facebook Stock Over The Past Decade (Forbes)