On Monday, Meta Platforms (META.O) announced that Chief Business Officer Marne Levine was departing the company that owns Facebook after a 13-year tenure. Marne Levine, 52, was hired as the company’s first chief business officer in 2021. She previously held numerous senior positions at the social media giant, including chief operating officer of Instagram.
Who’s Taking over?
In the wake of Levine’s impending retirement, the company stated it expanded Nicola Mendelsohn’s job as president of global business group and selected Justin Osofsky as head of online sales, operations, and partnerships. Mendelsohn will be in charge of the company’s relationships with top marketers and agencies for all of its apps, while Osofsky will be in charge of sales and operations geared toward expanding small and medium-sized enterprises on Meta’s platforms.
The measures come as Meta has committed to decrease expenditures by $5 billion this year, to a range of $89 billion to $95 billion, dubbed the “Year of Efficiency” in 2023.