Facebook owner Meta has confirmed the departure of chief business owner Marne Levine.

The executive will depart the company after 13 years but will stay on until the summer to “ensure a seamless transition”. The company will not directly appoint a successor, with Nicola Mendelsohn, head of global business group, and Justin Osofsky, head of online sales, operations and partnerships, taking on expanded roles. Both will report to chief operating officer Javier Olivan as part of a new-look structure at Meta.

Levine, who previously served in the administration of President Barack Obama as the chief of staff for the National Economic Council and special assistant to the president for economic policy, joined then-Facebook in 2010 as its vice president of global policy for Facebook.

She subsequently was made the first chief operating officer of Instagram, before becoming vice president of global partnerships, business and corporate development for Facebook in 2018 and eventually being appointed the first chief business officer of Facebook in 2021.

Commenting on Levine’s departure, ​​Olivan said: “From running global policy, to growing our Instagram business as the first COO, to leading our ads and business partnerships teams, Marne has been an incredible leader at Meta over the last 13 years. I’m grateful for our partnership, her commitment to Meta, and the energy she brought to the company every day.”

Adding of her successors, Olivan added: “Nicola has a strong, well-earned reputation in the ad industry, and Justin has a unique combination of product, operations and business experience that will serve him well in this new role. They’re both proven leaders, and we’re fortunate to have them leading this important work and representing the company with our advertisers and partners.”

Meta has branded 2023 as its ‘Year of Efficiency’, and is looking to cut costs by $5 billion. The company laid off 11,000 employees – about 13 per cent of its global workforce – in November, with news breaking last week that Meta is planning a fresh round of job cuts.

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