Meta Platforms Inc Chief Operating Officer Sheryl Sandberg is leaving the company after 14 years, she said in a Facebook post on Wednesday, sending the social media firm's shares down 4%.

Chief Growth Officer Javier Olivan will replace Sandberg, said Chief Executive Mark Zuckerberg in a separate post. Javier has worked at Meta for more than 14 years and has led teams handling Facebook, Instagram, WhatsApp and Messenger.

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Sandberg said she was not sure what the future holds for her, but she plans to focus on her foundation and philanthropic work. She will leave the company this fall, but will continue to be on Meta's board.