Facebook parent Meta dips as Sandberg to exit COO post
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Meta Platforms (NASDAQ:FB) shares sunk alongside news late Wednesday that Sheryl Sandberg is set to exit her post as chief operating officer after 14 years with the social networking giant.
While she is stepping down from her day-to-day job, Sandberg will remain on Meta's (FB) board of directors.
"When I took this job in 2008, I hoped I would be in this role for five years," she says in a Facebook post shortly before Wednesday's market close. "Fourteen years later, it is time for me to write the next chapter of my life.
"I am not entirely sure what the future will bring - I have learned no one ever is. But I know it will include focusing more on my foundation and philanthropic work, which is more important to me than ever given how critical this moment is for women," she continues, noting she's also getting married this summer.
Her direct reports will transition over the next few months and she'll leave in the fall. 
"I still believe as strongly as ever in our mission, and I am honored that I will continue to serve on Meta's board of directors," she says.
Updated: Meta shares closed the regular session down 2.6%.