Meta’s Chief Business Officer To Leave After 13 Years
Long-serving chief business officer Marne Levine is to leave Meta in the summer, following the departure of Sheryl Sandberg last year
Meta Platforms has confirmed the departure of another senior executive, namely chief business officer Marne Levine.
The firm announced on Monday that Levine is stepping down after 13 years with the company, and although she leave her role on 21 February, she will remain an employee at Meta until she officially departs in the summer.
It come after Meta lost another high profile female executive last year, when chief operating officer (COO) and one of the most high profile woman in the tech industry, Sheryl Sandberg, stepped down after 14 years with the platform.
Levine departure
“Chief business officer Marne Levine announced today that she will be leaving Meta after 13 years at the company where she held multiple leadership roles,” Meta announced on Monday.
“She will stay on until the summer to ensure a seamless transition,” the firm added. “Moving forward, Nicola Mendelsohn and Justin Osofsky are taking on expanded roles as our most senior sales and partnership leaders, representing the company with our advertisers and partners and reporting to COO Javier Olivan.”
“From running global policy, to growing our Instagram business as the first COO, to leading our ads and business partnerships teams, Marne has been an incredible leader at Meta over the last 13 years,” Javier said. “I’m grateful for our partnership, her commitment to Meta, and the energy she brought to the company every day.”
“Nicola has a strong, well-earned reputation in the ad industry, and Justin has a unique combination of product, operations and business experience that will serve him well in this new role,” he added. “They’re both proven leaders, and we’re fortunate to have them leading this important work and representing the company with our advertisers and partners.”
Before joining Facebook, Marne reportedly served in the Obama administration as chief of staff of the National Economic Council at the White House and special assistant to the President for Economic Policy.
She reportedly began her career at the US Department of Treasury under President Bill Clinton.
Zuckerberg future
The departure of Marne Levine comes after the future of co-founder and CEO Mark Zuckerberg was also the subject of speculation last year.
Last November it was reported that Zuckerberg had decided to step down in 2023, but his decision “would not affect metaverse”.
Zuckerberg had been under intense pressure, after he confirmed large-scale job losses at Meta last November.
In an open letter to staff Zuckerberg admitted that the job losses was “some of the most difficult changes we’ve made in Meta’s history.”
It came after shareholder Altimeter Capital Management in an open letter in October urged Meta to streamline operations by cutting jobs, and openly questioned the heavy Metaverse spending.
Meta reacted quickly to the Zuckerberg resignation report, dismissing it as “false.”
Zuckerberg meanwhile pleased investors earlier this month, when he promised a ‘year of efficiency’ in 2023, after Metaverse spending took a hefty toll on its 2022 profits.
