7

Sheryl Sandberg is leaving a Meta that is at a crossroads

 1 year ago
source link: https://finance.yahoo.com/news/sheryl-sandberg-is-leaving-a-meta-that-is-at-a-crossroads-175427532.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.

Sheryl Sandberg is leaving a Meta that is at a crossroads

  • S&P 500

    4,109.01
    -67.81(-1.62%)
  • Dow 30

    32,901.86
    -346.42(-1.04%)
  • Nasdaq

    12,013.72
    -303.18(-2.46%)
  • Russell 2000

    1,882.18
    -15.50(-0.82%)
  • Crude Oil

    120.28
    +3.41(+2.92%)
  • 1,853.90
    -17.50(-0.94%)
  • Silver

    21.93
    -0.34(-1.55%)
  • EUR/USD

    1.0721
    -0.0026(-0.2447%)
  • 10-Yr Bond

    2.9570
    +0.0440(+1.51%)
  • GBP/USD

    1.2498
    -0.0078(-0.6178%)
  • USD/JPY

    130.8570
    +0.9870(+0.7600%)
  • BTC-USD

    29,566.43
    -673.61(-2.23%)
  • CMC Crypto 200

    639.74
    -21.06(-3.19%)
  • FTSE 100

    7,532.95
    -74.71(-0.98%)
  • Nikkei 225

    27,761.57
    +347.69(+1.27%)
b3e2c130-e2ab-11ec-9fcf-30f09ceb460b
Scroll back up to restore default view.

Sheryl Sandberg is leaving a Meta that is at a crossroads

Daniel Howley
·Technology Editor
Sat, June 4, 2022, 2:54 AM·6 min read
In this article:
  • -4.15%
Sign in to add to watchlist

Long-time Meta (FB) COO Sheryl Sandberg is stepping down from the role she held for 14 years. And for Meta, that means losing a key executive at a time when the business is undergoing a major transition from a social network to a metaverse company.

Without Sandberg, Meta loses a strong leader who guided the company, and a young Mark Zuckerberg, through numerous controversies, including appearing before Congress in 2018 to answer for Facebook's role in Russia's interference with the 2016 presidential election.

Sandberg’s expertise, however, lay in building up businesses and their ad sales capabilities. And with Meta already a juggernaut in online ad sales and the company changing its focus to the metaverse, not to mention Zuckerberg no longer in need of a mentor, Sandberg’s days at the company were likely already numbered. Still, that doesn’t make her departure any less of a blow to the tech giant.

“Obviously this is a big change,” said Dorie Clark, executive education professor at Duke University’s Fuqua School of Business.

“[Sandberg’s] background is in ad sales. That's the realm where she has a huge amount of knowledge and has been quite successful,” Clark explained. “But as the company moves forward in a new direction, that is outside of the realm of her expertise, It certainly seems like a logical time for her to move on.”

Meta is in the midst of a massive transformation

Sandberg joined Facebook in 2008 when she was 38 and Zuckerberg was just 23. The two had contrasting styles, with Sandberg rising early and understanding the politics of business, and Zuckerberg, well, not. As a result, she provided the company with a steady hand during its early growth years.

“[Zuckerberg] was a young inventor coming out of Harvard, but in many ways she brought what I would consider to be stability to the leadership ranks, and was his mentor in doing it,” said Bill Klepper, academic director of executive education at Columbia Business School.

Recommended Stories
  • b37b1437f5c6ad28cecc348f7310ce78.cf.webp
    Reuters

    EU blacklists wife of Russian billionaire Melnichenko to curb bypassing sanctions

    The European Union on Friday blacklisted Aleksandra Melnichenko, the wife of Andrey Melnichenko, a previously sanctioned Russian billionaire who Reuters revealed had reassigned his companies to her in a bid to contain the business damage. The sixth round of EU sanctions against Russia for waging a war against Ukraine took effect on Friday, including an embargo on most oil imports and removing Russia's top lender Sberbank from the international SWIFT system. Reuters reported that Melnichenko ceded ownership of two of the world's largest coal and fertilizers companies - SUEK and EuroChem - to his wife Aleksandra on March 8, the day before the EU sanctioned him.

    3h ago
  • 39ca2fa550cee62080430ee765de4048.cf.webp
    Reuters

    Crypto scam victims lose more than $1 billion since 2021 - FTC

    Nearly half the people who reported losing digital currencies in a scam said it started with an ad, post or a message on a social media platform, according to the FTC. The craze for cryptocurrencies was at a fever pitch last year with bitcoin hitting a record high of $69,000 in November. Reports point to social media and crypto as a combustible combination for fraud, the agency said, adding that about $575 million of all losses related to digital currency frauds were about "bogus investment opportunities".

    2h ago
  • 7a2f584a518b00c0ccdca342a03d0669.cf.webp
    Reuters

    Regulating crypto assets would protect 'the rest of us': Fed's Waller

    "The main issue in crypto-asset regulation isn’t how to protect sophisticated crypto-investors; it’s how to protect the rest of us," Waller said in remarks prepared for delivery to the SNB-CIF Conference on Cryptoassets and Financial Innovation in Zurich. In particular, he said, the aim of regulation would be "to protect society from the often-irresistible pressure to socialize the losses of investors with limited resources, and to limit the spread of financial stress." Several high-profile collapses in the crypto world recently have prompted calls for better guardrails for what's essentially an unregulated market.

    3h ago
  • 0dd1a47dacff918705d644cd7d47e5db.cf.webp
    Bloomberg

    Hungary Spurned EU Oil Offer to Stick With Putin’s Cheap Crude

    (Bloomberg) -- When the European Union was cobbling together a ban on Russian oil, Hungary was offered replacement supplies that would have ensured energy security for Budapest and shown Moscow a unified front over the war in Ukraine.Most Read from BloombergOne-Third of Americans Making $250,000 Live Paycheck-to-Paycheck, Survey FindsTesla Pauses Hiring as Musk Aims for 10% Staff Cut, Reuters SaysElon Musk’s Ultimatum to Tesla Execs: Return to the Office or Get OutApple Plans to Make the iPad Mo

    2h ago
  • 8c5f231aad51bf77e7fedf555df3f380.cf.webp
    Bloomberg

    Cerberus Is Said to Mull Sale of Packaging Firm Closure Systems

    (Bloomberg) -- Cerberus Capital Management is considering options including a sale of Closure Systems International that could value the packaging company at more than $1 billion, according to people with knowledge of the matter.Most Read from BloombergOne-Third of Americans Making $250,000 Live Paycheck-to-Paycheck, Survey FindsTesla Pauses Hiring as Musk Aims for 10% Staff Cut, Reuters SaysElon Musk’s Ultimatum to Tesla Execs: Return to the Office or Get OutApple Plans to Make the iPad More Li

    3h ago
  • 760a6c90-cfce-11ec-afd9-a2b12de30c51.cf.webp
    Yahoo Finance

    May jobs report: Payrolls rise by 390,000 as unemployment holds at 3.6%

    The Labor Department released its May jobs report Friday at 8:30 a.m. ET. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg.

    7h ago
  • 8fe56fe8e92b64888c5f6557d8accae1.cf.webp
    Reuters

    Fed may need to stick to half-point rate hikes - Mester

    (Reuters) -The Federal Reserve may need to continue raising rates at the current clip through September unless there is "compelling" evidence that inflation has peaked based on a range of data, Cleveland Federal Reserve Bank President Loretta Mester said on Friday. Mester and other policymakers, including Fed Chair Jerome Powell, have already signaled they expect to follow last month's half-point interest rate hike with two more in June and July. "I'm going to come into that September meeting and if I don't see compelling evidence, then I could easily be a 50-basis-point (vote) in that meeting as well," Mester told CNBC.

    2h ago
  • 5c969a8a158033f0f53dcca365d43570.cf.webp
    Reuters

    Deere to move cab production to Mexico amid tight U.S. labor market

    The transfer of cab production from its Tractor and Cab assembly operations facility to the components plant in Ramos, Mexico is expected to be completed by 2024, impacting about 250 employees. "The decision to move cab production ensures the company can balance workforce needs within the tight labor market, while also ensuring Waterloo can open up floor space to manufacture new products," the company said in a statement. Deere missed Wall Street revenue targets in its latest quarterly results and flagged difficulties in securing parts for its heavy machinery.

    3h ago
  • 2522dc6a0587040b0c4fec84f646d545.cf.webp
    Reuters

    Amazon executive behind its massive delivery operation to leave after 23 years

    (Reuters) -Dave Clark, the executive who made Amazon.com Inc into a worldwide delivery behemoth, is stepping down as chief executive of the online retailer's consumer business to pursue other opportunities, the company said on Friday. Amazon CEO Andy Jassy said he expects to share an update on who will succeed Clark in the next few weeks. The departure further solidifies a changing of the guard at Amazon, which for years had veteran ranks under founder Jeff Bezos.

    3h ago
  • 0caa6293791c17424ed66b1cb3e89c00.cf.webp
    Bloomberg

    Turkish Inflation Reaches Fastest Since 1998 With Surge Past 73%

    (Bloomberg) -- Most Read from BloombergOne-Third of Americans Making $250,000 Live Paycheck-to-Paycheck, Survey FindsTesla Pauses Hiring as Musk Aims for 10% Staff Cut, Reuters SaysElon Musk’s Ultimatum to Tesla Execs: Return to the Office or Get OutApple Plans to Make the iPad More Like a Laptop and Less Like a Phone‘Most Clever Oligarch’ Severed His $37 Billion Fortune From Russian RootsTurkey’s inflation soared in May to the fastest since 1998 as it came under more pressure from the rising co

    13h ago
  • 94ef8ac6edcc9ed8a598a9a0e05d7c92.cf.webp
    Bloomberg

    Brazil’s Rate Is Headed to 14% From Just 2% in Depth of Pandemic

    (Bloomberg) -- Brazil’s inflation is running so hot that a growing number of economists now expect the central bank to increase interest rates far beyond what policy makers deemed necessary just a few months ago.Most Read from BloombergOne-Third of Americans Making $250,000 Live Paycheck-to-Paycheck, Survey FindsTesla Pauses Hiring as Musk Aims for 10% Staff Cut, Reuters SaysElon Musk’s Ultimatum to Tesla Execs: Return to the Office or Get OutApple Plans to Make the iPad More Like a Laptop and L

    11h ago
  • 0ef5b700-e2cd-11ec-bffd-f90b7e2a1c88.cf.webp
    Yahoo Finance

    Stock market news live updates: Stocks accelerate losses after strong May jobs report

    U.S. stocks slid at the start of trading Friday as investors weighed May's employment report, which showed the economy creating more jobs than expected last month.

    40m ago
  • 17e31d0edf0bde65e7dd719d37afd6a7.cf.webp
    Bloomberg

    US May Never Build New Refinery Even With Surging Gas Prices, Chevron CEO Says

    (Bloomberg) -- There may never be a new refinery built in the US despite surging gasoline prices as policymakers move away from fossil fuels, according to Chevron Corp. Most Read from BloombergOne-Third of Americans Making $250,000 Live Paycheck-to-Paycheck, Survey FindsTesla Pauses Hiring as Musk Aims for 10% Staff Cut, Reuters SaysElon Musk’s Ultimatum to Tesla Execs: Return to the Office or Get OutApple Plans to Make the iPad More Like a Laptop and Less Like a Phone‘Most Clever Oligarch’ Seve

    3h ago
  • 14825930-e36d-11ec-b2de-f62e40b5a6eb.cf.webp
    Yahoo Finance

    This week in Bidenomics: Maybe it’ll all work out

    Job and wage growth are slowing, but that's the recipe for getting inflation under control.

    1h ago
  • 5dda2610-9d34-11eb-bdbf-716db1c6b879.cf.webp
    Yahoo Finance

    Bad news about hiring trends in tech is 'misleading': Economist

    Announcements continue to pile up about hiring slowdowns in the tech world. Economists think these paint a "misleading" picture of the labor market.

    3h ago
  • 2a461230-e119-11ec-bfb9-e7ceb046bdc5.cf.webp
    Yahoo Finance

    Stock market news live updates: Stocks slide to start June after data impresses, Dimon warns

    U.S stocks decline on Wednesday as Wall Street entered a fresh month of trading.

    2d ago
  • 50a8e686daa4a44042c2f217b0bf3865.cf.webp
    Investor's Business Daily

    Dow Jones Rallies On Jobs Report; Facebook Stock Pops As Sheryl Sandberg Quits; Microsoft Fights Back

    The Dow Jones rallied on a new jobs report. Facebook stock jumped despite Sheryl Sandberg quitting as COO. Microsoft reversed higher.

    1d ago
  • 1e745c112822cea2efbe25d252655f38.cf.webp
    BuzzFeed News

    Sheryl Sandberg Has Resigned From Facebook Parent Company Meta

    Sandberg is stepping down after 14 years, during which she built Facebook into a powerhouse and faced a rash of scandals.View Entire Post ›

    2d ago
  • 356727f3a65ee0844fb69dc360531eff.cf.webp
    MarketWatch

    With Sheryl Sandberg gone from Facebook, Wall Street should fear its future

    Sheryl Sandberg was the adult in the room for Mark Zuckerberg, so what happens after she leaves him to play with 'the metaverse'?

    2d ago
  • stream_1280x720x0_v2_3_0.jpg.cf.webp
    Yahoo Finance Video

    Bidenomics: Maybe it will all work out?

    Yahoo Finance senior political columnist Rick Newman joins the Live show to break down the Fed's inflation outlook, in addition to Tesla CEO Elon Musk's sentiments on recession risks, and President Biden's remarks on gun violence legislation.

    1h ago
  • 2b2b284f5b32376dd09c699c76359088
    Reuters

    Sandberg's exit may not be a big blow for Facebook-parent Meta

    Sheryl Sandberg's exit from Meta Platforms Inc comes at a crucial time for the Facebook parent as it pivots to "metaverse" in the face of slowing ad revenue, although Wall Street analysts say her departure will not be as significant. As second-in-command to founder and Chief Executive Mark Zuckerberg, Sandberg transformed Facebook from a buzzy startup into a technology behemoth and helped grow its ad revenue to over $100 billion from $272 million in her 14 years with the company. "Meta is a more mature business with set processes as Sandberg moves on," JMP Securities analyst Andrew Boone said.

    1d ago
  • 9f30aea50c40dbf98e1413805607374c
    Motley Fool

    This Warren Buffett Stock Looks Like a Great Buy Today

    It does, however, make sense to look at the various stocks he buys and consider whether specific companies make sense for your portfolio. Buffett and his investment management crew tend to favor companies that have competitive moats, are well-managed, and whose shares look undervalued. One of the more recent additions to Berkshire Hathaway's portfolio is Brazilian fintech company StoneCo (NASDAQ: STNE).

    1d ago
  • a11781f0d8d049ab61f59124f8fa6ffe
    CBS News Videos

    TechWatch: Sheryl Sandberg steps down from Meta, Elon Musk cracks down on remote work

    Longtime Meta COO Sheryl Sandberg is leaving Facebook's parent company after 14 years. Meanwhile, Elon Musk is giving his employees an ultimatum on remote work. CBS News tech reporter Dan Patterson breaks down the biggest stories in tech.

    22h ago
  • 572c52e9418ad029a7039d34af46047e
    Motley Fool

    Did Tesla's Elon Musk Just Predict the Next Recession?

    Tesla (NASDAQ: TSLA) CEO Elon Musk is never afraid to speak his mind, and millions of people pay close attention. What's potentially concerning about the Tesla leader's comments, though, is that in some ways, consumer-led recessions can be self-fulfilling prophecies. Musk emailed Tesla executives that he has a "super bad feeling" about the economy, according to reports from Reuters.

    6h ago
  • ecea2371e178f4b3d2bccc42c30e5c1e
    Motley Fool

    Did Shopify's Highly Anticipated Stock Split Just Hit a Snag?

    One of the proposed shareholder measures, which was expected to be rubber-stamped by investors, has hit some surprising resistance.

    8h ago
  • 0fae92c0-27ac-11ec-975f-22c19a0d9d35
    Yahoo Finance

    Meta losing Sheryl Sandberg leaves a 'massive hole,' analyst warns

    Meta has a big leadership hole to hole now that Sheryl Sandberg is leaving.

    1d ago
  • f925104d056219f533e10a8d9ae1a018
    SmartAsset

    Public vs. Private Companies: What Investors Need to Know

    Though similar in many respects, private and public companies differ in significant ways. Private companies only have to follow laws and statutes that apply to everyone else. Publicly traded companies, on the other hand, have to obey both generally applicable … Continue reading → The post Public vs. Private Companies: Key Differences appeared first on SmartAsset Blog.

    6h ago
  • 03d88240-8fb7-11eb-bf7b-44e45318825a
    Yahoo Finance

    Sheryl Sandberg to step down as Meta COO

    Long-time Meta COO Sheryl Sandberg is stepping down from her position with the company.

    2d ago
  • 8bbd0cb1185688d1f200e96c24e16e21
    Motley Fool

    Why Micron Stock Stumbled on Friday

    Piper Sandler is scared of a computer memory glut, but Micron's stock price is cheap enough to already factor that in.

    4h ago
  • d5ad8909e524311ae0b5f0cb40bb32cb
    Motley Fool

    Why StoneCo Stock Is Surging Today

    Shares of StoneCo (NASDAQ: STNE) are making big gains in Friday's trading. StoneCo published Q1 results after the market closed on Thursday, posting a performance that came in above the market's expectations. The company recorded non-GAAP (adjusted) earnings per share of 0.43 Brazilian reals on revenue of 2.07 billion reals, and its forward guidance was also significantly better than anticipated.

    4h ago
  • 7d22692cd0eafa94f2517cc914205c79
    TipRanks

    Billionaire Ken Fisher Pours Money Into These 2 ‘Strong Buy’ Stocks

    In the world of stock legends, Ken Fisher stands out. The legendary investor founded his private financial advisory firm, Fisher Investments, in 1979, with just $250 in seed money. Today, Fisher’s company manages over $195 billion in total assets, and his personal net work exceeds $5 billion. Fisher has cast his eye on current market conditions. In recent published note, Fisher points out the obvious headwinds in the current environment: “Fear of the impact of the tragic, grinding war in Ukraine

    6h ago
  • 75c3874e7361b6641ed61cf67f2c7e9b
    Investor's Business Daily

    Dow Jones Falls As Apple Crumbles; Tesla Stock Plunges As Elon Musk Does This; 2 Leaders Make Bullish Moves

    The Dow Jones fell on strong jobs data. Tesla stock plunged on an Elon Musk move. Apple stock crumbled. Amazon fell after an executive quit.

    2h ago
  • 82532400-e348-11ec-bdf5-149a8547bb9d
    Yahoo Finance Video

    Tesla and Apple drive down tech stocks, Coinbase among biggest crypto laggards

    Yahoo Finance’s Ines Ferré discusses which stocks are making significant moves in intraday trading.

    6h ago
  • 369f1854795f4d077d593d07d7c591ff
    TheStreet.com

    Amazon Stock Split: What the Charts Say Ahead of 20-for-1 Split

    Amazon stock is working on its sixth straight daily rally ahead of its 20-for-1 stock split. Here's what the charts say now.

    1d ago
  • a9c51e6237b89e110d6edbae7aeec83a
    Insider Monkey

    Hedge Funds Are Buying These 10 Energy Stocks

    In this article, we discuss the 10 energy stocks hedge funds are buying. In order to skip our detailed analysis of the energy sector, go directly to Hedge Funds Are Buying These 5 Energy Stocks. Amid the ongoing economic crunch, where inflation and geopolitical tensions have played their part in destabilizing the post-pandemic recovery, energy […]

    6h ago
  • de4f95058ddf75ea5f866881da1eef48
    Insider Monkey

    11 Stocks in Focus After Releasing Their Earnings Reports

    In this article, we will take a look at the 11 stocks in focus after releasing their earnings reports. You can skip our detailed analysis of these companies and go directly to the 5 Stocks in Focus After Releasing Their Earnings Reports. Recently, popular tech stocks, including Salesforce, Inc. (NYSE:CRM), NetApp, Inc. (NASDAQ:NTAP) and Pure […]

    5h ago
  • 7a5b9f40f76660efc671783647e533f7
    Motley Fool

    Why Shares of Amarin Corporation Dropped 46.1% in May

    Amarin Corporation (NASDAQ: AMRN), a biopharmaceutical company that specializes in cardiovascular therapies, saw its shares plummet 46.1% in May, according to data from S&P Global Market Intelligence. The company has only one marketed therapy, Vascepa (icosapent ethyl), which is designed to reduce the risk of stroke or heart attack by lowering harmful triglycerides, a type of fat in your blood. The problem for Amarin is that Vascepa now has three generic competitors compared to only one at this time last year.

    2d ago
  • a6c6a869a7c2c92171425bdb9b9fb0f6
    Insider Monkey

    Jim Cramer Loves These 10 Stocks

    In this article, we take a look at 10 stocks that received bullish comments from Jim Cramer recently. You can skip the discussion on Jim Cramer’s history and investment philosophy and go directly go to Jim Cramer Loves These 5 Stocks. Jim Cramer is the man behind CNBC Investing Club and the host of CNBC […]

    1d ago
  • 947deec16fc2e86efbe2fdcb068b8340
    Motley Fool

    The NBA Finals Are Here! Should You Buy DraftKings Stock Now?

    Regardless of who wins the championship series, the event will likely generate lots of interest from sports fans.

    5h ago
  • 39c3e56387949709635305adc0098eb0
    TheStreet.com

    Embattled Electric Truck Maker Nikola Makes a Big Promise

    When Nikola CEO Mark Russell said the electric truck maker had an extraordinary year in 2021, nobody argued with him. Russell was detailing the company's accomplishments to analysts during Nikola's fourth-quarter earnings call. "What an extraordinary year we had in 2021," Russell said, according to a transcript of the call.

    7h ago

About Joyk


Aggregate valuable and interesting links.
Joyk means Joy of geeK