Meta Platforms Business Chief Marne Levine to Leave

Facebook parent

Meta Platforms Inc.

META 3.03%

said Monday that the executive in charge of overseeing the company’s advertising business would be leaving the company.

Marne Levine,

Meta’s chief business officer, is set to depart from the company this summer and will step down from her role next week, just two years after being elevated to the position. Ms. Levine’s exit comes as the company struggles through one of the toughest periods it has faced in its advertising business. Over the past three quarters, Meta has recorded year-over-year declines in revenue.

“As we round out one of our more challenging years with results moving in the right direction, and as I look out at the excellent leaders and strategy we have in place, this moment feels right for me,” Ms. Levine wrote in a Facebook post announcing her departure.

Two executives are to succeed Ms. Levine.

Nicola Mendelsohn,

the head of Meta’s global business group, and

Justin Osofsky,

the company’s head of online sales, operations and partnerships, will expand their roles and report directly to Meta Chief Operating Officer

Javier Olivan.

“I’m grateful for our partnership, her commitment to Meta, and the energy she brought to the company every day,” Mr. Olivan said in a written statement.

Ms. Levine’s exit also comes amid a “flattening” push to remove layers of middle management at Meta to “build a stronger technology company and become more profitable,” Chief Executive

Mark Zuckerberg

said this month during the company’s quarterly earnings call.

Ms. Levine is set to leave Meta after 13 years and various roles at the company. She was recruited to the company by former Chief Operating Officer

Sheryl Sandberg,

who left the company in 2022. The two met while working together at the U.S. Treasury Department, Ms. Levine wrote on Facebook. In her first role at Meta, Ms. Levine served as the vice president of global policy. Ms. Levine next moved to Instagram, where she was chief operating officer. Before taking on the role of chief business officer, Ms. Levine was the company’s vice president of global partnerships, business and corporate development.

She was promoted to chief business officer after the company’s chief revenue officer,

David Fischer,

said in 2021 that he would be leaving the company. At the time, Meta’s global ad-sales chief,

Carolyn Everson,

was considered a potential successor to Mr. Fischer. Ms. Everson left the company after Ms. Levine was tapped for the job.

Ms. Levine oversaw Meta’s advertising business during some of the most challenging times in the company’s history. During her tenure, Meta encountered growing competition from upstart Chinese rival TikTok and a decline in advertising demand amid a difficult macroeconomic climate. Since April 2021, Meta has contended with the effects of

Apple Inc.’s

ad-tracking changes, which the social-media company said last year would cost it roughly $10 billion in revenue in 2022.

In November, the company said it would cut more than 11,000 workers, or 13% of its staff.

Write to Salvador Rodriguez at [email protected]

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