MARK ZUCKERBERG has taken a step back from some of his day-to-day responsibilities overseeing Meta in order to focus on building his metaverse vision.
The digital entrepreneur made changes in his company’s leadership today as he continues to shake-up his company to focus on the future.
On October 28 last year Zuckerberg unveiled a rebranding for Facebook’s parent company, changing the name to Meta, as he launched his plans to build a virtual reality world for work and play.
Announcing today’s leadership changes to help further prepare for the company’s future plans, Zuckerberg said in a Facebook post: “I want to share an update on our company leadership as we begin our next chapter to help build the metaverse.
“This will be an exciting period of innovation, but at the same time the landscape around regulation for our industry is changing quickly.
“We need a senior leader at the level of myself (for our products) and Sheryl [Sandberg] (for our business) who can lead and represent us for all of our policy issues globally.”
He said he had asked Nick Clegg, the former UK deputy prime minister and Meta’s current vice‑president for global affairs and communications, to take on a new position.
As president, global affairs, he will be tasked with leading Meta “on all our policy matters, including how we interact with governments as they consider adopting new policies and regulations, as well as how we make the case publicly for our products and our work”.
Zuckerberg said Clegg’s promotion would give him more time focus on the development of the metaverse.
“It will enable me to focus more of my energy on leading the company as we build new products for the future,” he said.
Earlier this month it was Meta’s AR and VR division reported a net loss of $10.2billion for 2021 after investing hearty sums into the development of a metaverse.
The deep losses led to shares plummeting by 23 per cent, with the price failing to recover since then.
At the time Zuckerberg said his plans would require years of investment until its potential could be achieved.
“This fully realised vision is still a ways off,” he said.
“And although the direction is clear, our path ahead is not yet perfectly defined.”
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