In a surprising move, Sheryl Sandberg, the former operating chief of Meta Platforms (previously known as Facebook), has announced that she will not be seeking reelection as a board member at the upcoming annual shareholder meeting in May. Sandberg joined the company in 2008 after an impressive tenure in high-level positions at Google.
Sandberg explained in a Facebook post that her decision to step down comes after successfully facilitating a smooth transition following her departure as the Chief Operating Officer. She expressed confidence in the current leadership team, including CEO Mark Zuckerberg and executives Javi Olivan, Justin Osofsky, and Nicola Mendelsohn, acknowledging their unwavering dedication and their ability to position Meta for future success.
Zuckerberg himself responded to Sandberg's announcement, expressing his gratitude for her invaluable contributions to Meta's achievements. He highlighted her instrumental role in driving the company's success throughout the years.
Despite this news, Meta's stock remained relatively stable during after-hours trading. The company has seen a 4% increase in share value this year, with an impressive 172% growth over the past 12 months.