Meta’s Leadership Shifts as Nick Clegg Steps Down

Clegg’s Departure: A New Chapter for Meta

On Thursday, Nick Clegg announced he would resign as Meta Platforms Inc.’s META president of global affairs.

Joel Kaplan Takes Over: The Next Phase at Meta

Joel Kaplan, a prominent Republican and former deputy chief of staff under George W. Bush, is set to replace Clegg. Kaplan has been with Meta as the vice president of global public policy and has played a key role in shaping the company’s interactions with conservative leaders.

Clegg, who joined Meta in 2018, made his announcement via a Facebook post. Mark Zuckerberg, Meta’s CEO, expressed his gratitude towards Clegg’s seven years of service in a reply to this post.

Zuckerberg stated, “I’m excited for Joel to step into this role next given his deep experience and insight leading our policy work for many years.”

Context of Kaplan’s Appointment

Kaplan’s leadership will likely be pivotal as the company navigates its relationship with Donald Trump, who is returning to power as Republicans gain control of Congress. Despite a mixed reception to his approach, Kaplan’s history has been marked by efforts to sway policies favorably towards political allies, according to reports in the Financial Times.

See Also: Jeff Bezos Booby-Trapped His Childhood Home To Keep Out Pesky Siblings—But Later Convinced Them to Invest

What This Means for Meta

Meta’s leadership change occurs as the company traces its steps toward mending fences with Trump. Interestingly, last month, Meta contributed $1 million to Trump’s inauguration events. Clegg admitted that the company might have been too aggressive in moderating content related to the pandemic, showing an attempt to ease prior tensions with the former president. Notably, Zuckerberg and Trump reportedly met at Mar-a-Lago in December for discussions about potential collaborations.

Stock Performance

On the day of Clegg’s announcement, Meta’s stock rose 2.34%, closing at $599.24. So far in 2024, the company’s shares have enjoyed a remarkable increase of 73.04%, according to data from Benzinga Pro.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.