Key points:
- Meta Platforms (FB) just announced that its COO Sheryl Sandberg, is leaving.
- Many investors are wondering how Meta (FB) stock will perform in future.
- Her replacement, Javier Olivan, is an insider, which should help.
- Read on to see our thoughts on the transition and what comes next.
Meta Platforms Inc (NASDAQ: FB) yesterday announced that its long-serving Chief Operating Officer (COO) Sherly Sandberg had resigned from the company and would be replaced by Javier Olivan, the current Chief Growth Officer (CGO).
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Olivan will be working closely with Mark Zuckerberg, Facebook’s Founder and CEO. Still, many do not expect him to have the towering public presence that Sheryl commanded across Silicon Valley and internationally.
Given his previous role as head of international growth, Javier seems like the ideal replacement for Sandberg. He was primarily responsible for Facebook’s growth since joining the social media giant in 2007.
Zuckerberg was the first to clarify that Javier would not work the same way that Sandberg operated but would define his role as COO as he saw fit. However, while many outside Facebook did not know much about Javier Olivan, he is an influential figure within the company and is well respected.
For those wondering how Meta Platforms (FB) stock will perform once Sheryl leaves her current post, there will be minimal change in the company’s operations since the man taking over is an insider. However, this does not mean that he won’t implement some changes once he assumes the role.
James Lee, an analyst at Mizuho, issued a research note maintaining a buy rating on Meta Platforms (FB) stock with a price target of $325. He also expressed confidence that there would be a smooth transition at the firm.
The Facebook stock price has been falling for most of this year, especially after the February crash driven by its Q4 2021 earnings results. However, the crash was triggered by the social media giant’s weak forecast saying that it expected its revenues to shrink by $10 billion in 2022 due to Apple privacy settings changes.
Therefore, based on Meta Platforms’ current outlook, it is clear that Javier Olivan will have his work cut out for him.
*This is not investment advice. Always do your due diligence before making investment decisions.
Meta Platforms (FB) stock price.
Meta Platforms (FB) stock price has fallen 43.92% this year, but there is room for growth at the firm.
