Leaked transcript: What Mark Zuckerberg told Meta employees about Sheryl Sandberg’s exit

Meta held a digital assembly for its greater than 70,000 workers on Thursday, and there was a particular subject of debate: the lately introduced departure of Sheryl Sandberg, its longtime No. 2 govt.

“Folks requested me all day yesterday, ‘Why now? Why now?’ Why now’s as a result of it’s time to write down the following chapter of my life,” Sandberg mentioned on the assembly, which Recode obtained an unique recording of and has transcribed beneath. “However actually, [it’s] as a result of I’ve a lot religion within the management crew Mark and I’ve put in place,” she continued.

The assembly centered on Sandberg’s contributions to Meta’s enterprise — particularly, making it worthwhile — in addition to Sandberg’s early recollections of Zuckerberg, and Zuckerberg’s plans to extra carefully combine Meta’s product and enterprise groups when Sandberg exits.

Sandberg’s departure comes at a time of unparalleled uncertainty about the way forward for Meta, the corporate previously referred to as Fb. The tech large has reoriented its imaginative and prescient away from social media to give attention to constructing the “metaverse”; in the meantime, its inventory value has confronted historic dips, and it continues to face the continued risk of regulatory scrutiny.

Which is why the departure of Sandberg — who was lengthy thought of “the grownup within the room” who helped Zuckerberg mature his enterprise — despatched shock waves by the corporate and the complete tech trade.

Not like in common weekly govt Q&A conferences usually held each week at Meta, the “hearth chat” format of Thursday’s assembly meant that the corporate didn’t take direct questions from workers. The roughly 30-minute dialogue was largely Sandberg and Zuckerberg expressing their gratitude for one another. Zuckerberg thanked Sandberg for instructing his 23-year-old self “tips on how to run an organization,” and Sandberg complimented Zuckerberg for his imaginative and prescient and the groups they constructed collectively.

They made no point out of the biggest points dealing with the corporate, similar to Meta’s ongoing challenges round content material moderation (which Sandberg oversaw), Fb’s declining relevance with youthful customers amid the rise of its competitor TikTok, and skepticism about the way forward for the metaverse.

The congratulatory tone of the assembly additionally glossed over any questions on Zuckerberg and Sandberg’s relationship, which based on a number of studies has grown extra distant lately. (Meta has denied any rift.)

Though the assembly didn’t straight dive into the various urgent points dealing with the corporate, this leaked recording of a Meta inside assembly presents insights into how the corporate is positioning a pivotal second as one in all its most formative and outstanding leaders is leaving.

The next is a rush transcript of Meta’s inside assembly on June 2, 2022. This transcript has been edited for size and readability.

Moderator

Hello, everybody. Thanks a lot for becoming a member of us immediately to be with us after the information, you noticed in Worker FYI, from each Mark and Sheryl’s posts. And we’re not going to take any questions — it’s sort of totally different than a Q&A this time. However we actually needed to get to listen to from Mark and Sheryl each and communicate on to workers in regards to the information. So with out additional ado, Mark, we’ll kick it over to you.

Mark Zuckerberg

All proper, thanks. Properly, I needed to get the corporate collectively to speak about yesterday’s information. As I wrote my publish, that is the top of an period. It truly is. After 14 years, Sheryl has made the choice to step down from her function as COO of Meta. And I believe it’s onerous for us to have, sitting the place we’re immediately, the place we now have this actually profitable firm, to place ourselves in what issues have been like from when Sheryl joined with the intention to perceive simply how large of an affect she’s had on this place.

When Sheryl joined me, it was again in 2008. I used to be 23 years previous on the time, and I barely knew something about operating an organization. We had this nice product on the time, it was an internet site, not a cellular app, it was simply Fb. But it surely was an awesome product that individuals have been tremendous enthusiastic about. We didn’t actually have something in the best way of a worthwhile enterprise. We had a smattering of some concepts, we didn’t actually have the path of the place we’re gonna go together with advertisements. And we have been actually struggling to simply transition from this unfastened startup tradition to an actual group.

And, you understand, a variety of what Sheryl did is she architected our advertisements enterprise, she employed a variety of nice individuals, she constructed our administration tradition, and taught me and so many different individuals right here tips on how to run an organization. And I believe, you understand, the place we are actually the place we now have this profitable enterprise and we now have a company that works effectively. And we now have a whole lot and in a variety of methods hundreds of nice leaders across the firm who can push them ahead. It’s a really totally different world from the place we have been, when Sheryl was constructing all of that up. So you understand, I believe a variety of her legacy is that she simply created alternatives for thousands and thousands of individuals all over the world and I believe she deserves a variety of the credit score for what Meta is immediately.

I believe it’s been actually uncommon for a partnership like this to final so lengthy, Sheryl will say that she thought it could final for 5 years however it lasted for 14. I used to be just a little extra optimistic that it could have lasted just a little greater than 5 years. However I imply, usually this stuff don’t final for that lengthy as a result of companies evolve and the wants that individuals have evolve, and folks’s ambitions change. However I believe that our partnership labored for therefore lengthy, as a result of Sheryl is simply such a tremendous individual and chief and associate and pal and like a lot of what she did, she actually centered on making the partnership work and she or he focuses on nurturing the relationships and serving to the individuals round her develop.

I’m simply tremendous grateful for having had this chance to construct this firm and work so carefully with Sheryl, and I really feel like she’s leaving us in an awesome place having educated so many different superior and gifted individuals right here. And naturally, she’s not going that far as a result of she’s gonna be on our board going ahead. So anyway, it’s tough to overstate how large of an affect Sheryl’s had on this place. However I simply wish to begin off by expressing my gratitude for every little thing that you just’ve completed.

Sheryl Sandberg

Thanks. , I don’t know if it’s that I anticipated it to final for 5 years. However the story is that I met Mark at this occasion. And we sort of stood by the wall by the door and talked the complete time. After which we went out to dinner as soon as after which sort of, you understand, he was very recognizable. I used to be not, however I did have a big crew at Google. And somebody on that crew noticed us there so we didn’t exit once more. We had dinner at my home, we couldn’t have dinner at Mark’s home as a result of Mark — keep in mind you had a studio residence with a mattress on the ground. And also you accurately judged that that was not place to have a dinner with me.

And so we had dinner at my home many, many, many occasions for a lot of months. After which on the finish, we went out to dinner. Me and Mark and Dave, my husband, and Priscilla was then his younger girlfriend. And on the best way there Dave and I talked, he checked out me and mentioned, “You’ve received to have the ability to see your self on this job for 5 years, in any other case this is unnecessary.” And in order that all the time sort of rang in my head —and that was, as Mark mentioned, 14 years in the past — can you’re employed for and with this individual for the following 5 years of your life? And the reply to that was simply an awesome sure.

And you understand, I mentioned this in my publish, however this job has been the glory and privilege of a lifetime, and that actually begins with Mark.

On the best way in, I requested him for 3 issues: that we’d sit collectively, that we’d meet each week, and that we’d give one another suggestions. And on the third … I requested for him to present me suggestions each week. And he mentioned instantly, “nope, I can’t provide you with suggestions each week except you give it to me.” And we arrange, I believe it was Fridays in our early days for our assembly and suggestions days. And I keep in mind in one in all my very first weeks the suggestions got here instantly and it was on a Tuesday, and I’m like “Whoa, It’s not a suggestions day, suggestions day is Friday.”

However the truth that we talked about that with the intention to have an actual partnership — and that is one thing I’ve tried to impart to the corporate — as a result of we’re an organization stuffed with individuals, we’re an organization stuffed with relationships, that’s the entire relationships between all of you that both make this place work or make this place not work that construct the merchandise or don’t that promote the advertisements or don’t ship or not, that preserve issues operating or not. And it’s being sincere and direct that retains issues from increase and retains issues on monitor. And Mark mentioned instantly, “Properly, it doesn’t should be Friday.” And Mark was all the time actually sincere with me.

Once I was interested by that tradition of suggestions, what’s the suggestions Mark has had for me essentially the most? And it’s actually that we should be formidable, throughout. I keep in mind when that crash of 2008 occurred, you understand, and I used to be doom and gloom and thought we’re by no means going to promote one other advert and our 2009 income projections Mark was like “Not ok.” And I mentioned, “Properly, you understand, the markets crashing and the entire world’s imploding.” And everybody remembers this — okay, not all of you as a result of a few of you’re very younger — however a variety of us keep in mind this time on the earth and within the markets. And it felt like, there would by no means get the top of the recession would by no means come up. Mark says, “properly, we’ve nonetheless received to promote advertisements and construct the enterprise by this.” And we did.

And at each stage of the sport Mark has all the time pushed us to be bolder. One of many different moments on that I’ve all the time considered is Mark has all the time mentioned there’s two methods for a corporation to fail. A technique is it units formidable plans and doesn’t meet them. However the second manner is it units plans that aren’t formidable and desires them. And he all the time mentioned, I by no means need the second to occur to us that we are able to’t have plans that gained’t actually ship. In case you look about the place the corporate is correct now, the metaverse plan is formidable, and that’s Mark at his best possible. I’m actually grateful to this crew.

Folks requested me all day yesterday, “Why now? Why now?” Why now’s as a result of it’s time to write down the following chapter of my life. However actually, as a result of I’ve a lot religion within the management crew Mark and I’ve put in place, once you take a look at my direct studies, from Marne to Justin to Molly and Maxine to Lori and Jen and Nick, who’ve already began reporting to Mark months in the past.

[Editor’s note: Marne Levine is Meta’s chief business officer, Justin Osofsky is Instagram COO & VP of global operations, Molly Cutler is Meta’s VP of strategic response program, and Maxine Williams is Meta’s global chief diversity officer. Lori Goler is Meta’s head of people, Jennifer Newstead is Meta’s chief legal officer, and Nick Clegg is Meta’s president of global affairs.]

There’s such a deep bench, and it’s not simply them, it’s the individuals below them, and the individuals below them and the individuals below them. And Javi, [Editor’s note: Javier Olivan is Meta VP of central products and will take over Sandberg’s former role as COO] as he steps into what’s a really totally different, however I believe it’s actually vital, function for this firm. I’ve a lot religion in all of them. And I simply have a lot gratitude. Thanks all for therefore many good posts and messages and calls and texts yesterday sharing your tales. I’m very grateful that I’ve touched lives the best way a few of you’re saying and I would like you to know you’ve touched mine much more. So now I believe we’re going to speak just a little bit about transition — oh no, I’m sorry, Melinda, you reasonable.

Moderator

No, I’m simply making an attempt to carry again tears. And in addition, the concept that is most likely essentially the most coronary heart emojis that I’ve seen on a reside broadcast that we’ve completed. Plenty of individuals chiming in saying, “Wow, Mark, and Sheryl, what a partnership for all of those years, it appears like such an awesome friendship as properly.” After which additionally simply how good it’s been to have two leaders such as you, and particularly on this time and day, how great it’s to see you collectively. So that you talked about one thing, although, I wish to return to about our construction and management altering a bit primarily based on the information. So Mark, would you stroll by the modifications right here of structurally what’s occurring?

Mark Zuckerberg

Certain. So I believe the very first thing to say is we’re not going to interchange Sheryl’s function in the best way that it’s occurring now, I believe for just a few causes. One is that it could be inconceivable. And Sheryl is a novel and super-talented chief who joined at a particular context in time in our firm the place there have been all these components of the corporate that wanted to be simply constructed from scratch that weren’t the product.

However going ahead, I believe it makes much more sense to combine the enterprise features and product features collectively, fairly than having these be type of two separate sides of the corporate. Javi Olivan goes to be the following COO of the corporate. And as a part of that, the entire enterprise features, the product teams round advertisements, and commerce, enterprise messaging funds, are going to be there in addition to Marne Levine, our chief enterprise officer for the corporate and the entire Meta enterprise group. And Javi additionally, he simply has this historical past of being extremely rigorous and centered on effectivity with every little thing that he runs, and I carry on simply including an increasing number of issues to his portfolio over time. However now that he’s along with operating these components of the enterprise, he’s additionally going to run, he runs our infrastructure groups and integrity, advertising and marketing, analytics, company growth, and development as properly.

However I believe it’s vital to note that — begin to acknowledge that — this function goes to be a unique COO function than what Sheryl has completed. It’s going to be a extra conventional COO function, the place Javi goes to be centered primarily internally and operationally. And for essentially the most half, I believe individuals externally are usually not actually going to listen to from him. The sort of function of the highest public enterprise individual on the firm goes to be Marne as chief enterprise officer. And she or he has already performed a bunch of this function and has helped to knit the Meta enterprise group along with the gross sales group and the partnerships organizations.

And a variety of what we’re going to do over the remainder of this yr as Sheryl transitions in her day-to-day function is simply ensure that we transition all of the relationships over to Marne, and Marne’s actually going to be the sort of high one that offers with all of the CEOs of the businesses that we associate with and operating all of the partnerships and the work that we do there, reporting into Javi’s org.

One of many large legacies that Sheryl has is simply having all these superior leaders who’re going to tackle these greater roles now, a few of them have already stepped into greater roles. So that features the parents like Jennifer Newstead, who stepped into a task as our chief authorized officer final yr, in addition to Nick Clegg, who stepped into a task as our president of world affairs earlier this yr. And people of us have been already twin reporting to me and Sheryl, so simply very naturally, they’ll simply proceed reporting to me now.

On the individuals facet, we now have Lori Goler I’ve labored extraordinarily shut with for a very long time, so she’ll now report on to me. Maxine Williams, our chief range officer, goes to proceed working within the individuals crew, however she’s been in my workers assembly for quite a lot of years now and goes to proceed doing that too, and simply has a very beneficial voice in that group that I’ve appreciated and can proceed to lean on.

After which on the identical time, Molly Cutler, who has run our strategic response group, can also be going to affix Javi’s group reporting to Naomi with the identical fundamental give attention to enhancing our decision-making and execution effectivity. And that’s going to be the large focus there. So we’ll share extra details about the orgs within the coming weeks as we work every little thing out, that’s type of the highest degree of issues. However I believe over time, we’re going to wish to simply ensure that these totally different teams are extra built-in properly collectively, I believe having the merchandise nearer to the totally different enterprise and operational teams goes to make every little thing run extra effectively, we’ll have the ability to get higher suggestions from our prospects and shoppers and folks in our group extra straight into our product group section. That’s going to be nice. And that I believe is an effective sort of subsequent step for the group to take.

However I imply, look, it’s, once more, it’s simply onerous to overstate how large of an affect Sheryl has had. I sit up for all these of us who she’s educated up persevering with to work with them, and I’ve an enormous quantity of confidence that they’re gonna have the ability to preserve pushing this all ahead. But it surely’s clearly large sneakers to fill.

Moderator

Oh, I really like that. Mark. Thanks for that. I wish to take a couple of minutes simply to speak to you each about a number of the tales that I’ve had the privilege of listening to about your relationship and partnership that I believe can be value speaking about for workers as properly. , Mark, you mentioned one thing fascinating the opposite day, this firm was so totally different earlier than Sheryl began. And such as you mentioned, she has made an incredible affect, however I’d love to listen to, you understand, how this has gone for the myriad of years that you just’ve been collectively and what that appears like from then to now.

Mark Zuckerberg

Certain. You wish to begin Sheryl, or ought to I?

Sheryl Sandberg

I assume if it’s earlier than I used to be right here, you’ll want to begin?

Mark Zuckerberg

Yeah, properly, I imply, I believe the largest factor that it’s tough for individuals immediately to actually respect is simply how totally different the context was across the firm. I imply, immediately, we’re this very profitable firm, it’s type of onerous to — you understand, when one thing works, it’s onerous to look again and assume a world the place it won’t have labored. However you understand, on the time when Sheryl joined, we had an awesome product, however it was a time earlier than there have been a variety of, you understand, the profitable internet 2.0 firms as they have been known as. It simply wasn’t clear to lots of people that promoting was going to have the ability to gasoline a sustainable enterprise, a lot much less a massively profitable one.

We needed to make this large transition from being this type of unfastened startup tradition to calling it a company. However I imply, which may even be overstating what it was on the time. However transitioning that to truly being an actual firm that may execute on a bunch of various issues directly and have some rigor.

And these have been all issues that nobody on the firm had ever had any expertise doing, proper? So we constructed this product, I had some expertise coding and constructing issues that individuals favored, and I felt fairly assured that I may preserve doing that. And we may construct groups to maintain doing that. However nobody had ever constructed an enormous worthwhile advertisements enterprise or scaled an organization or a company to a whole lot or hundreds of individuals earlier than, and we didn’t understand how to do this.

And that’s when Sheryl got here in, and never solely put the constructions in place, the advertisements facet actually simply centered us over a interval of years that that was going to be the primary manner that we have been going to make cash till it actually began working. However alongside the best way, she simply educated so most of the key individuals right here and introduced in lots of people and educated them on tips on how to be the leaders that this firm wanted.

So, you understand, on the time when she joined, lots of people made this joke, though it actually wasn’t a joke on the time, that she was type of the grownup supervision for the corporate.

However I believe now she’s type of raised a era of grownup managers on the firm, who I believe now can run very advanced and large issues on their very own. And I believe, Sheryl, you’ll be able to communicate to this, however think about that simply seeing all these of us develop up and type of take after you and the way you’ve been the way you constructed the group across the firm, might be one thing that you just take an enormous quantity of satisfaction in.

However you understand, finally, the take a look at of any chief is can they step again from a day-to-day function and have issues proceed doing properly, as a result of I imply, face it — whether or not you’re leaving the corporate, or simply if you wish to tackle extra accountability and new tasks, it’s type of all of our job to have the ability to arrange the individuals round us to have the ability to do what we’re at present doing immediately, in order that we are able to do extra or various things sooner or later. And I believe Sheryl has simply completed that actually properly. However from the place we sit immediately, I believe it’s actually onerous except you have been sort of there on the time. And even for me, it’s onerous to sort of put myself again within the sneakers of how chaotic issues have been 14 years in the past, however you actually have to understand that with the intention to perceive simply how large of an affect Sheryl has had on this place.

Sheryl Sandberg

Thanks. So good. , after I assume again to taking this job, Mark is so variety to share a lot credit score. However the product that this firm had constructed — that Mark had constructed, {that a} very small group of individuals had constructed — was so highly effective. And I had used it and joined, I assume, Fb, in 2007 as a consumer, and I used to be simply amazed that individuals would share and put their actual identification on-line. And that wasn’t apparent to me coming from Google when search and anonymity and also you’re in search of particular info at a particular a part of time that goes to you solely. However there was all the time this nice ardour in what we have been doing.

And Mark all the time thought, he mentioned earlier than, I assumed somebody would construct this, he simply didn’t know what can be them. But it surely was them. And I received the chance to affix. You talked in regards to the satisfaction I’d absorb a number of the individuals who have grown up right here — I’ve grown up right here too. And instantly I consider Naomi, who was right here after I joined who’s now taking over a chunk of what I used to be doing in one of many extra vital components is Molly Cutler and her wonderful group, and has been such an awesome product, and enterprise and strategic chief for us however I believe was proper out of faculty then. Mark and I talked about rising up collectively.

And it’s actually true that none of us may have foreseen what this could possibly be. None of us may have thought – I keep in mind, we have been in a bunch of downtown buildings —Mark, you’ll keep in mind —in Palo Alto once we took what was now basic campus. And I keep in mind taking that tour pondering “Oh, my god, this place is large. Do we’d like this a lot area?” And now I’m sitting so distant proper now in my room from that campus that I believe is an effective 15 minute stroll to the place I assumed these buildings — perhaps 25 minutes — to the final of those buildings the place I assumed that area was simply so ginormous. We’d by no means fill it. However the factor is — have been you [Zuckerberg] gonna say one thing?

Mark Zuckerberg

No.

Sheryl Sandberg

I keep in mind after I instructed you once we initially went to that campus, Mark was nervous that there wasn’t sufficient stuff on the campus and I instructed you we’d attempt to get a McDonald’s, do not forget that?

Mark Zuckerberg

Um, yeah, roughly.

Sheryl Sandberg

Roughly. We received on this bus. And we had been in search of a campus for a very long time and I mentioned to Mark, I mentioned two issues are true: One, you’re not going to love this, and two, we’re signing the lease in like three days [laughing] as a result of we’re out of choices. And the rationale he didn’t like it’s that earlier than our groups — our wonderful facility groups — took over it was just a little drab, and just a little not energetic. That absolutely modified, however we by no means did fairly get McDonald’s there.

Mark Zuckerberg

That’s okay.

Sheryl Sandberg

However we produced higher meals on our personal due to our culinary crew. However one factor that’s been true all alongside is the deep ambitions this firm has. And I’ve all the time thought that a part of the partnership Mark and I’ve is that Mark all the time pushed me to be greater, assume bigger, get extra completed. And I all the time clarify to Mark that there’s like 80 steps between right here and getting that completed. However the objectives of setting issues excessive.

And one of many issues I’m most enthusiastic about and why I’m so honored to remain on the board is I might have by no means envisioned the merchandise we’re constructing within the metaverse and Mark’s imaginative and prescient for this, after I get to speak to him about it, which frequently appears like speaking to Mark originally. Once I was right here 14 years in the past and interested by becoming a member of, that he’s seeing one thing that I don’t know if anybody else sees and he has that once-in-a-generation visionary that I believe has completed earlier than and can do it once more, with the assistance of everybody, of everybody on this firm.

Mark Zuckerberg

I’ve had this in my publish, however I do wish to say it out loud, which is each single day on this job, somebody does one thing that blows me away. I simply checked out this. I mentioned, “Oh my God, that is so giving, so beneficiant, so good, so strategic, so inventive.” I see that on daily basis. And that I believe is why we are going to proceed to be so profitable

Moderator

Oh, I imply, each time I get on, I’m like making an attempt to wipe away tears. Okay, I do know I’m being dramatic, however it’s true. There’s a remark right here that I’ve to learn for you each. It takes great empathy and braveness to acknowledge your long-term and longtime colleagues’ contributions, whereas ensuring the corporate has what it must evolve. So thanks, Mark, for modeling care and brave communication. After which Sheryl, on your work, your grace, your affect, your small business acumen, that may depart a long-lasting legacy. I imply, that just about sums it up, for certain, you each have allowed me to have a seat on the desk and mentors of mine, and I’ll be perpetually grateful. And I do know that a variety of workers really feel the identical. We’ve about two minutes left. So any closing ideas in any respect to share?

Mark Zuckerberg

Perhaps I’ll simply shut, equally to how I opened, however I simply assume that it actually is difficult to overstate the affect that Sheryl has had on this place. And I believe a lot of what we’ve constructed now versus again to issues that she has completed. I’m personally going to be unhappy to not get an opportunity to work with you as carefully going ahead, although I’m glad that you just’re gonna be on the board. However greater than something, I’m simply grateful for every little thing that you just’ve completed. And, and for leaving the corporate in such place with — although there’s rather a lot that we nonetheless must do and a variety of challenges — organizationally and from a individuals perspective, we now have nice individuals and a variety of that, I believe is due to the groups that you just’ve constructed. So I’m simply extremely grateful. And I believe it’s actually onerous to precise that sufficient for what you’ve completed for this place.

Sheryl Sandberg

I’ll shut saying the identical factor. I’m extremely grateful to you, Mark. Your kindness and your generosity, the eagerness with which you run this firm, on daily basis is touched many lives. You’ve touched the lives of not simply thousands and thousands, however billions of individuals all over the world. And I’m extremely grateful to the individuals who have joined us, to the individuals who work right here, to the individuals who will proceed to construct the merchandise that I’m gonna proceed to make use of and revel in, hopefully for the remainder of my life. Deep, deep, deep, deep love and gratitude. Thanks all. Thanks, Mark.