Bulletins

Sheryl Sandberg will leave Meta after 14 years this fall

Sandberg wrote in a Facebook post that "it is time for me to write the next chapter of my life."

Chief Operating Officer of Facebook, Sheryl Sandberg attends a meeting with the French President during the "Choose France" summit at the Chateau de Versailles, near Paris, on January 22, 2018. President Emmanuel Macron's campaign for a "French Renaissance" kicked into overdrive on January 22 as his government welcomed 140 multinational business leaders before this week's jamboree of the rich and powerful in Davos. / AFP PHOTO / POOL / Thibault Camus (Photo credit should read THIBAULT CAMUS/AFP via Getty Images)
Sheryl Sandberg will depart Meta this fall, after a transition period.
Photo: Thibault Camus/AFP via Getty Images

Sheryl Sandberg announced Wednesday she is stepping down as chief operating officer of Meta after 14 years. Sandberg announced her departure in a Facebook post, saying that she will spend the next few months transitioning before leaving the company in the fall.

"When I took this job in 2008, I hoped I would be in this role for five years. Fourteen years later, it is time for me to write the next chapter of my life," Sandberg wrote. "I am not entirely sure what the future will bring – I have learned no one ever is."


Sandberg joined Facebook from Google, tasked with transforming Mark Zuckerberg's wildly successful dorm room experiment into a going business. Sandberg led Facebook's efforts to develop an advertising business, and quickly became one of the most well-known female tech executives in the US. But in recent years, Sandberg's once sterling reputation has become tarnished, particularly in the wake of the Internet Research Agency scandal following the 2016 election.

More recently, The Wall Street Journal reported that Sandberg personally intervened in negative reporting about her ex-boyfriend Bobby Kotick. The Journal reported that Sandberg was facing an internal investigation over the matter.

Sandberg's post did not lend much clarity into why she decided now is the time to leave, instead, focusing primarily on her history at the company and her fondness for Zuckerberg, who she first met during a chance encounter at a holiday party.

"Mark is a true visionary and a caring leader. He sometimes says that we grew up together, and we have," Sandberg wrote. "He was just 23 and I was already 38 when we met, but together we have been through the massive ups and downs of running this company, as well as his marriage to the magnificent Priscilla, the sorrow of their miscarriages and the joy of their childbirths, the sudden loss of Dave, my engagement to [Tom Bernthal], and so much more."

In his own statement on Facebook, Zuckerberg wrote, "I'm sad that the day is coming when I won't get to work as closely with Sheryl. But more than anything, I'm grateful for everything she has done to build Meta."

Sandberg said she now plans to spend more time on philanthropy and family.

In recent years, there have been ample signs that she was taking a less prominent public role at the company. Recently, Nick Clegg was promoted to president of public affairs, a role that made him Meta's point person in conversations with world leaders and global governments.

Shortly after the news broke, former Meta employees began sounding off on Twitter. "I have no real thoughts on Sheryl as a person/leader but this will be an incredibly non-shocking departure to basically everyone inside the company," wrote former spokesperson Drew Pusateri.

Sandberg will continue to serve on Meta's board, but Zuckerberg said he will not be replacing her with anyone who does precisely what she does. "I'm not sure that would be possible since she's a superstar who defined the COO role in her own unique way," Zuckerberg wrote. "But even if it were possible, I think Meta has reached the point where it makes sense for our product and business groups to be more closely integrated, rather than having all the business and operations functions organized separately from our products."

Instead, Javier Olivan will become chief operating officer, but with a different set of responsibilities, which Zuckerberg described as more akin to a traditional COO role, focused on making the company "more efficient and rigorous."

Latest Bulletins

Ending a project that once sought to build a world-spanning financial network, Meta announced on the Novi website Friday that the pilot test of its blockchain-based money-transfer app would end in September.

Keep Reading Show less

In the wake of privacy concerns following Roe v. Wade being overturned, Google said Friday that it will start automatically deleting location history related to potentially sensitive places.

Keep Reading Show less

Voyager Digital said Friday it is suspending trading, deposits and withdrawals, in the latest sign of the deepening crisis in the crypto markets. Voyager said the move is meant to give the major crypto broker “additional time” to look for “strategic alternatives” as the company grapples with the impact of the market slump, CEO Stephen Ehrlich said in a statement.

Keep Reading Show less

BlockFi CEO Zac Prince said his company has signed a deal giving FTX the option to buy the crypto lender for up to $240 million as part of a credit financing agreement.

Keep Reading Show less

Tesla is facing yet another racial discrimination lawsuit, this one brought by 15 Black current and former employees who are suing the company in California.

The workers said the company’s culture allowed for “blatant, open and unmitigated race discrimination” and most of the alleged behaviors are said to have occurred at the company's factory in Fremont.

Keep Reading Show less

Klarna is close to raising new funding at a valuation of about $6.5 billion, which would be far below its last round raised last year, according to the Wall Street Journal. The move is the latest sign of the effects of inflation and the economic downturn on the fintech sector and "buy now, pay later" in particular.

Keep Reading Show less

Crypto companies will have to disclose just how much climate damage is tied to the tokens they're hawking. At least in Europe, that is.

Keep Reading Show less

Gene Levoff, Apple's former director of Corporate Law, pleaded guilty to insider trading, the Department of Justice announced Thursday.

Keep Reading Show less

New York state environmental regulators have declined to extend a key permit to a controversial cryptocurrency mining operation in the state's Finger Lakes region.

Keep Reading Show less

FTX is reportedly close to gobbling up BlockFi for about $25 million, though BlockFi's CEO has dismissed the talk as "market rumors."

Keep Reading Show less

The CFPB said it has terminated a sandbox deal that gave earned wage access provider Payactiv “temporary safe harbor from liability” under key lending regulations.

The CFPB granted Payactiv “special regulatory treatment” in December 2020 to offer “earned wage access” products that would allow employees to obtain wages they already earned before payday.

Payactiv gets paid back through a payroll deduction from the employee’s next paycheck. The company makes money through fees.

The CFPB said it had informed Payactiv early this month that it was “considering terminating the approval order in light of certain public statements the company made wrongly suggesting a CFPB endorsement of its products.”

The company requested that the CFPB end the sandbox order after notifying the agency that it planned to modify its product fee model, the CFPB said.

The move underlined the CFPB’s increasingly critical view of sandbox deals that the agency said “proved to be ineffective.”

Safwan Shah, Payactiv's founder and CEO, is credited with coining the term "earned wage access," which has been criticized by consumer advocates as being potentially predatory, especially when it comes to workers who don’t make much money.

Shah has argued that it benefits ordinary workers, citing a dieting principle: "The less you are paid, the more frequently you should be paid," he told Protocol in a 2021 interview. "If you're going to eat 500 calories, don't eat them in one sitting. Spread them throughout the day."

Correction: This story has been updated to correct the spelling of Payactiv's name. This story was updated June 30, 2022.

Samsung announced Wednesday that it has taken a significant step toward rolling out a next-generation manufacturing technology that has the potential to reshuffle the chip industry.

Keep Reading Show less

Amazon has censored search results related to LGBTQ+ products in the United Arab Emirates after being pressured by the government.

Keep Reading Show less

Grayscale is suing the U.S. Securities and Exchange Commission after the regulator denied the company's bid to convert its bitcoin trust into an exchange-traded fund.

Keep Reading Show less

App developers in South Korea can now use third-party payment systems, Apple announced in a blog post Thursday.

Keep Reading Show less

An employee working for OpenSea's email delivery vendor misused their customer data access to download and share email addresses with an "unauthorized external party," the NFT marketplace wrote in a company blog post Wednesday. The employee worked for Customer.io.

Keep Reading Show less

Javier Soltero is leaving Google Workspace, Google Cloud CEO Thomas Kurian announced Wednesday in an email to staff viewed by Protocol. Soltero will leave his role effective July 15.

Keep Reading Show less

San Francisco-based game development tools provider Unity is laying off hundreds of employees, according to a report from Kotaku.

Keep Reading Show less

Niantic is reportedly cutting between 85 and 90 staff members, or 8% of its workforce.

Keep Reading Show less

Crypto hedge fund Three Arrows Capital has reportedly received a court order to liquidate after creditors sued the company over unpaid debts.

Keep Reading Show less

Just months after committing to spend $925 million on carbon dioxide removal, a collection of major tech companies has announced its first purchases. The group, operating under the banner of Frontier, announced it had purchased nearly 2,000 tons of CDR services from five companies. It's a small ripple in the CDR pond, but one Frontier hopes will turn into a wave to bring down the costs of removing carbon.

Keep Reading Show less

The Federal Trade Commission has sued Walmart, alleging the retail giant "turned a blind eye" to fraud worth hundreds of millions on its money transfer services.

Keep Reading Show less

Eric Schmidt described his first five years at Google as "pure, naive techno-optimism," in that the company believed that applying American values like free speech is good for the world. But Google hit a brick wall when it bought YouTube.

Keep Reading Show less

The Biden administration's hot electric vehicle summer continues to zip along. On Tuesday, the White House announced $700 million in commitments for EV charging from private companies. The cash will up U.S. charging manufacturing capacity to 250,000 chargers a year and increase the number of chargers out in the wild. Not too bad!

Keep Reading Show less

Meta said it's working to correct enforcement errors that led to the removal of Facebook posts related to abortion pills and suspensions of user accounts behind the posts. The clarification came after Motherboard discovered that Facebook was instantly removing posts that said "abortion pills can be mailed," which the FDA legalized in 2021.

"Content that attempts to buy, sell, trade, gift, request or donate pharmaceuticals is not allowed. Content that discusses the affordability and accessibility of prescription medication is allowed," Meta spokesperson Andy Stone tweeted in response to the story. "We've discovered some instances of incorrect enforcement and are correcting these."

Keep Reading Show less
Bulletins