Report of CEO Zuckerberg stepping down next year false: Meta spokesperson

Andy Stone, Meta spokesperson claimed in a tweet on Tuesday that a report that Mark Zuckerberg would step down as the CEO next year was untrue. 

The Leak, a news outlet, earlier in the day cited an anonymous insider source in its allegation that Zuckerberg would step down in 2023. The news briefly caused the company’s shares to increase by 1 per cent. 

According to a source familiar with Meta’s plans, it was the Leak portal that originally reported that “Zuckerberg is set to resign next year.” 

According to the report, Zuckerberg has opted to step down personally, and his multibillion-dollar project, “metaverse,” won’t be affected.

Late on Tuesday, Andy Stone, the director of communications at Meta, tweeted that the claim was untrue. 

It is rumoured that Zuckerberg is committed to aggressively promoting his Metaverse concept despite the major reservations voiced by investors and industry professionals. 

After terminating over 11,000 employees and extending a recruiting freeze at Meta, Zuckerberg issued an apology.

About 13 per cent of the global staff of Meta was let go, making this one of the biggest layoffs in the history of the tech sector. 

Investors are starting to lose faith in the company’s billion-dollar, loss-making metaverse dream after it reported another quarterly revenue dip. 

In the third quarter, Meta’s revenue plummeted to $27.7 billion, a 4 per cent year-over-year reduction (Q3). In comparison to last year, the corporation reported a net income of $4.395 billion, a decrease from $9.194 billion.

(with inputs from agencies)

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