Meta CEO Mark Zuckerberg will step down next year?

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2022-11-24 22:03:56

The news that Meta CEO Mark Zuckerberg will step down in 2023 is spreading around the social networking site, at a time when the company is struggling with profitability.

Meta CEO Mark Zuckerberg is planning to step down next year. The rumor was published by The Leak and is spreading widely on many social networking sites, at a time when the company is struggling with profits.

See more: Meta fired dozens of employees who were complicit in hackers, hacked user accounts

Reply to ‘s report The Leaks, Meta’s director of communications, Andy Stone replied that “This is wrong, Mark Zuckerberg will not resign.” However, this is not the first time rumors of Zuckerberg’s resignation have surfaced. In November last year, “Whistleblower” Frances Haugen, voiced the scandals inside Facebook in 2021, claiming that “Facebook is going to be bigger with someone willing to focus on safety.”

In 2020, prominent investor and philanthropist George Soros called for Zuckerberg’s resignation in an open letter published in the Financial Times. Back in 2018, when the platform was at the center of the election interference controversy.

In an interview by CNN when asked about the possibility of resigning, Zuckerberg made it clear that “It wasn’t in the plan.” Over the years, many pundits, activists, and journalists have tried to push Zuckerberg to resign due to numerous controversies, but the CEO of Meta overcame them all.

Meta CEO Mark Zuckerberg will step down next year?

Meanwhile, a number of famous departures occurred. Instagram co-founders Kevin Systrom and Mike Krieger left the company in 2018 over differences with Zuckerberg’s vision for the product. WhatsApp CEO Jan Koum also left Facebook the same year, which also saw WhatsApp co-founder Brian Acton go down the path of retirement. More recently, Meta COO Sheryl Sandberg stepped down after 14 years with the social networking giant.

Zuckerberg has poured billions of dollars into the metaverse project, which CEO Meta thinks is the next version of the Internet that includes virtual and augmented reality experiences. Despite poor initial reception and difficulty in producing more affordable metaverse-integrated devices, Zuckerberg remained steadfast in his metaverse ambitions.

Meta CEO Mark Zuckerberg will step down next year?

See more: Meta laid off more than 11,000 employees from Facebook, Instagram and WhatsApp

Meanwhile, Facebook’s parent company’s net worth has dropped significantly, as shares of Meta are plunging. Zuckerberg’s net worth peaked at $142 billion just over a year ago, but it has since dropped to half that figure. According to the company’s latest quarterly report, Zuckerberg’s net worth fell by $11 billion in just one day.

With Meta stock going down, Zuckerberg’s vision is losing investor attention and the social media business is facing its toughest competition ever.

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