By Sam Boughedda
Meta Platforms Inc's (NASDAQ:META) Chief Business Officer Marne Levine will leave the company after 13 years, it was announced on Monday.
Levine was appointed the Facebook parent company's first chief business officer in 2021 and has served in several other executive positions at the company, including as chief operating officer of Instagram.
Meta said in a statement that Levine will stay on until the summer to ensure a smooth transition, with Nicola Mendelsohn and Justin Osofsky taking on expanded roles, reporting to COO Javier Olivan.
"From running global policy, to growing our Instagram business as the first COO, to leading our ads and business partnerships teams, Marne has been an incredible leader at Meta over the last 13 years," Olivan said.
Mendelsohn's expanded role as Head of Global Business Group will now include overseeing Global Partnerships and Engineering. Osofsky is now Head of Online Sales, Operations and Partnerships and will expand his role to include revenue generation, leading the company's sales and operations focused on growing small and medium-sized businesses.
The management changes come at a difficult time for Meta Platforms, with the company reportedly planning a new round of layoffs as it looks to cut costs further.
Reports of further layoffs have pushed its share price over 3% higher on Monday.