Marne Levine, the Chief Business Officer (CBO) of Facebook’s parent company Meta, has decided to leave the company. However, till she leaves the company, she will be associated with the company as an employee. She has been associated with the company for the past 13 years and has now decided to leave the company at a time when it is trying to recover from slow revenue growth in recent quarters.
Marne Levine, the Chief Business Officer (CBO) of Meta, the parent company of veteran social media company Facebook, has decided to leave the company. She will resign from the post of CBO on February 21, 2023, but will continue to be associated with the company as an employee till she leaves the company. She has been associated with the company for the last 13 years and has now decided to go at a time when the company is trying to recover from slow revenue growth in recent quarters. Last year, Meta’s revenue declined for the first time after 18 years of rapid growth. In November last year, the company announced the retrenchment of 11,000 employees.
Marne Levine was in the Obama administration before Meta
Levine joined Meta in July 2010 and was Meta’s first Vice President of Global Policy. Prior to joining Meta, Levine was engaged to former US President Barack Obama. Levine was chief of staff at the National Economic Council in the Obama administration. Apart from this, she was the Special Assistant to the President for Economic Policy.
He started his career in the United States Department of Treasury during Bill Clinton’s presidency. Levine served in a variety of positions at META for 13 years. She was the Chief Operating Officer of Instagram for three years and then Vice President of Global Partnerships, Business, and Corporate Development for three and a half years. She then became Meta’s chief business officer in June 2021 after David Fischer left the company.
Meta changing in a big way
Meta executives Nicola Mendelsohn and Justin Osofsky will have increased responsibilities. Both of these executives will report to Javier Olivan, COO of Meta. According to Meta, this will help bring the company’s business and product teams closer and better serve clients. Meta CEO Mark Zuckerberg recently talked about major changes in the company’s structure so that it will be strengthened. Mendelsohn, vice president of Meta’s Global Business Group unit, will be promoted to head the Global Business Group. Meanwhile, Justin Osofsky, Instagram’s chief operating officer and Meta’s vice president of content and global operations, has been assigned the responsibility of leading Meta’s online sales, operations, and partnerships.
Under the changes, some levels of middle management in the company are also being removed so that there is no delay in taking decisions. Additionally, AI tools will be deployed to make engineers more productive. Zuckerberg called this year 2023 the year of efficiency in the company’s earnings conference call on February 1.
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