Sheryl Sandberg says she’s leaving Meta’s board
Sheryl Sandberg, chief operating officer of Facebook Inc.
David Paul Morris | Bloomberg | Getty Images
Former Meta operating chief Sheryl Sandberg is leaving the company’s board of directors.
“With a heart filled with gratitude and a mind filled with memories, I let the Meta board know that I will not stand for reelection this May,” Sandberg wrote in a Facebook post on Wednesday.
Sandberg, 54, joined Facebook in 2008 as Mark Zuckerberg’s top deputy after spending about seven years at Google. In 2012, she became a board member at the company. During her tenure, Facebook rose from a highflying startup to become one of the most valuable companies in the world, topping a $1 trillion market cap at its peak in 2021.
Sandberg announced her departure from Meta in mid-2022, following multiple controversies that dogged the company and sullied its reputation among users, lawmakers and investors. Most notably, Facebook was central to the spread of disinformation ahead of the 2016 election and during the early days of the Covid pandemic in 2020. The company has also been in the subject of antitrust investigations and was scrutinized in Sandberg’s waning days for its insufficient efforts to combat hate on its platform.
When Sandberg stepped down as Meta COO in June 2022, she was replaced by Javier Olivan, who had been serving as Meta’s chief growth officer.
Since leaving Meta, Sandberg has dedicated much of her time on her LeanIn.org nonprofit, which focuses on empowering women tin the workplace, and related projects.
“I wanted my new chapter to be able to really make a difference,” Sandberg told CNBC Make It in August. “We’ve been in development on this since I was at Meta, but being able to have the time to put into [this launch] and to really be … a bigger part of this has meant a lot to me.”
Shortly after Sandberg’s post, Zuckerberg responded with a short reply.
“Thank you Sheryl for the extraordinary contributions you have made to our company and community over the years,” Zuckerberg wrote. “Your dedication and guidance have been instrumental in driving our success and I am grateful for your unwavering commitment to me and Meta over the years. I look forward to this next chapter together!”
Meta technology chief Adam Bosworth wrote, “Amazing run Sheryl, thank you so much for everything you did for all of us and also for me personally.”
Meta’s board consists of Zuckerberg, who serves as chairman, as well as former PayPal Executive Vice President Peggy Alford, venture capitalist Marc Andreessen, Dropbox CEO Drew Houston, former McKinsey & Company senior partner Nancy Killefer, former U.S. deputy secretary of the treasury Robert M. Kimmitt, DoorDash CEO Tony Xu and Tracey T. Travis, a former CFO at Estée Lauder.
Here’s the full text of Sandberg’s post:
With a heart filled with gratitude and a mind filled with memories, I let the Meta board know that I will not stand for reelection this May. After I left my role as COO, I remained on the board to help ensure a successful transition. Under Mark’s leadership, Javi Olivan, Justin Osofsky, Nicola Mendelsohn, and their teams have proven beyond a doubt that the Meta business is strong and well-positioned for the future, so this feels like the right time to step away. Going forward, I will serve as an advisor to the company, and I will always be there to help the Meta teams.
Serving as Facebook’s – and then Meta’s – COO for 14 ½ years and a board member for 12 years has been the opportunity of a lifetime. I will always be grateful to Mark for believing in me and for his partnership and friendship; he is that truly once-in-a-generation visionary leader and he is equally amazing as a friend who stays by your side through the good times and the bad. I will always be grateful to my colleagues and teammates at Meta for all the years of working side by side and all they taught me. And I am particularly grateful to my fellow Meta board members for their lasting friendships, the guidance they provided me for so many years, and their stewardship of products that mean so much to people all over the world.
WATCH: Three buys and a bail
An Electron rocket launches the Baby Come Back mission from New Zealand on July 17, 2023.
Rocket Lab
Rocket Lab stock soared 8% Monday, building on a strong run fueled by space innovation.
Shares of the space infrastructure company have nearly doubled over the last two months following a slew of successful launches and a deal with the European Union.
The stock is up 63% year to date after surging nearly sixfold in 2024.
Last month, Rocket Lab announced a partnership with the European Space Agency to launch satellites for constellation navigation before December.
Rocket Lab also announced the successful launch of its 66th, 67th and 68th Electron rockets in June. The company successfully deployed two rockets from the same site in 48 hours.
Rocket Lab competes with a growing list of companies in a maturing and increasingly competitive space industry with growing demand. Some of the main competitors in the sector include Elon Musk‘s SpaceX and Firefly Aerospace, which filed its prospectus to go public on Friday.
“For Electron, our little rocket, we’ve seen increased demand over the last couple of years and we’re not just launching single spacecraft — these are generally entire constellations for customers,” CEO Peter Beck told CNBC last month.
He said the company is producing a rocket every 15 days.
Beck, a New Zealand-native, founded the company in 2006. Since its debut on the Nasdaq in August 2021 through a merger with a special purpose acquisition company, the Long Beach, California-based company’s market value has swelled to more than $19 billion.
WATCH: Rocket Lab CEO Peter Beck: One thing I don’t worry about at night is demand
Technology
Anthropic, Google, OpenAI and xAI granted up to $200 million for AI work from Defense Department
A view of the Pentagon on December 13, 2024, in Washington, DC. Home to the US Defense Department, the Pentagon is one of the world’s largest office buildings.
Daniel Slim | Afp | Getty Images
The U.S. Department of Defense on Monday said it’s granting contract awards of up to $200 million for artificial intelligence development at Anthropic, Google, OpenAI and xAI.
The DoD’s Chief Digital and Artificial Intelligence Office said the awards will help the agency accelerate its adoption of “advanced AI capabilities to address critical national security challenges.” The companies will work to develop AI agents across several mission areas at the agency.
“The adoption of AI is transforming the Department’s ability to support our warfighters and maintain strategic advantage over our adversaries,” Doug Matty, the DoD’s chief digital and AI officer, said in a release.
Elon Musk’s xAI also announced Grok for Government on Monday, which is a suite of products that make the company’s models available to U.S. government customers. The products are available through the General Services Administration (GSA) schedule, which allows federal government departments, agencies, or offices to purchase them, according to a post on X.
OpenAI was previously awarded a year-long $200 million contract from the DoD in 2024, shortly after it said it would collaborate with defense technology startup Anduril to deploy advanced AI systems for “national security missions.”
In June, the company launched OpenAI for Government for U.S. federal, state, and local government workers.
WATCH: US needs an allied strategy for AI investment in military and defense: Palantir
Meta CEO Mark Zuckerberg appears at the Meta Connect event in Menlo Park, California, on Sept. 25, 2024.
David Paul Morris | Bloomberg | Getty Images
Meta CEO Mark Zuckerberg on Monday said he plans to invest “hundreds of billions of dollars” into artificial intelligence compute infrastructure, and that Meta plans to bring its first supercluster online next year.
A supercluster is a large, complex computing network that’s designed to train advanced AI models and handle their workloads.
“Meta Superintelligence Labs will have industry-leading levels of compute and by far the greatest compute per researcher,” Zuckerberg wrote in a Facebook post on Monday. “I’m looking forward to working with the top researchers to advance the frontier!”
Zuckerberg said Meta’s first supercluster is called Prometheus, and that the company is building several other multi-gigawatt clusters. One cluster, called Hyperion, will be able to scale up to five gigawatts over several years, he said.
Zuckerberg has been on a multibillion-dollar AI hiring spree in recent weeks, highlighted by a $14 billion investment in Scale AI. He announced a new organization in June called Meta Superintelligence Labs that’s made up of top AI researchers and engineers.
Zuckerberg had grown frustrated with Meta’s progress in AI, especially after the release of its Llama 4 AI models in April received a lukewarm response from developers. He is revamping Meta’s approach to better compete with rivals like OpenAI and Google.
“For our superintelligence effort, I’m focused on building the most elite and talent-dense team in the industry,” Zuckerberg wrote Monday.
WATCH: Meta announces several multi-gigawatt data centers, first planning to come online in 2026
-
Sports3 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports1 year agoStory injured on diving stop, exits Red Sox game
-
Sports2 years agoGame 1 of WS least-watched in recorded history
-
Sports2 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports4 years ago
Team Europe easily wins 4th straight Laver Cup
-
Sports2 years agoButton battles heat exhaustion in NASCAR debut
-
Environment2 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment2 years agoGame-changing Lectric XPedition launched as affordable electric cargo bike