By Denny Jacob

Facebook parent Meta Platforms Inc. on Monday said Chief Business Officer Marne Levine would leave the company later in the year.

The social-media company said Ms. Levine would step down from her role on Feb. 21 and would remain an employee until she departs in the summer as part of the transition.

Meta said Nicola Mendelsohn and Justin Osofsky would expand their roles as the company's most senior sales and partnership leaders going forward.

The departure at Meta marks the latest one to take place, most notably with Javier Olivan taking over as chief operating officer following Sheryl Sandberg's departure in 2022.

It also comes as the company is undergoing a series of changes. Meta in November announced an 11,000 worker layoff in a cost cutting measure echoed by many other technology companies. Chief Executive Mark Zuckerberg this month outlined a focus on efficiency going forward and announced other investor-friendly moves including buying back an added $40 billion in shares and cutting expenses.

Write to Denny Jacob at

(END) Dow Jones Newswires

02-13-23 1220ET