Sheryl Sandberg, COO of Meta, the parent company of Facebook, announces her departure

Sheryl Sandberg, COO of Meta, Facebook’s parent company, announced Wednesday that she is leaving her role with the company. She had held the position since 2008.

β€œTo sit alongside Mark for these 14 years has been the honor and privilege of a lifetime,” Sandberg wrote in a Facebook post announcing the decision.

Sandberg, a former Google executive who helped optimize that company’s advertising business, joined Facebook when the social media platform still lacked a “Like” button.

She led a dramatic increase in Facebook’s revenue by revamping its advertising business, turning the operation into an industry powerhouse that helped businesses large and small target users with data collected by the platform.

In 2007, the year before Sandberg joined, the company’s revenue was just over $150 million. Last year, the company grossed around $117 billion.

Meta has been the subject of public scrutiny and legal challenges regarding its business operations.

In December 2020, the Federal Trade Commission sued Meta for allegedly maintaining a monopoly through anti-competitive practices. In January, a federal judge allowed the lawsuit to clear a procedural hurdle.

A separate lawsuit, also filed by state attorneys general in December, accuses Facebook of colluding with Google to dominate the online advertising industry.

Facebook disputed the claims in both lawsuits.

This is a developing story. Check back for updates.

ABC News

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