The Real Reason why Facebook’s Chief Revenue Officer is Leaving

This Tuesday social media giant Facebook’s Chief Revenue Officer announced that he would be leaving the company.

Facebook is preparing for a series of privacy changes to Apple’s iOS ecosystem which are expected to make it harder for personalized ads. This could as an effect impact the company’s advertising revenue.

David Fischer, the company’s head of its advertising business and the one in charge of Facebook’s worldwide sales organization, said he would be leaving the company later this year

“This has been the job of a lifetime. I am immensely proud of all that we have accomplished over the past eleven years, and am optimistic about the path the company is on,” Fischer wrote on his Facebook profile.

Fischer will be staying with Facebook until sometime in the fall and is “ensuring a smooth transition.” He wants to spend time with family and friends once he leaves and travel if possible.

“Thank you for the extraordinary impact you’ve had on our company over the last 11 years,” Facebook Chief Operating Officer Sheryl Sandberg wrote in a comment to Fisher’s post.

“You’ve helped us build our business into what it is today — Mark and I and the entire company couldn’t be more grateful,” she added.

Before arriving at the social media company, Fischer was the vice president of global online sales and operations at Google. He was also deputy chief of staff of the U.S. Treasury Department during the Clinton administration.

Facebook has no plans to fill his position once he leaves but instead says it will create a chief business officer role that also includes managing partnerships.

Fischer will manage the search for his successor, said the company.

Along with posting many pictures on his Facebook post, the full post reads as follows:

I want to share the news that I’ve decided to leave Facebook toward the end of this year. This has been the job of a lifetime. I am immensely proud of all that we have accomplished over the past eleven years, and am optimistic about the path the company is on.

I’m especially appreciative for the opportunity to support hundreds of millions of businesses around the world and help spur economic growth and job creation — through some very turbulent times, including this past year of the pandemic. I know that the tools we offer and the service we provide have been make-or-break for so many people, and the communities they serve.

The chance to work with such extraordinary people — talented, driven, committed to the people we serve — has been a real honor. At the top of the list of what I’ll miss are all my colleagues and friends. The team at Facebook is one key reason why I remain so optimistic about the company’s future.

I expect to be at Facebook into the fall and will be focused on advancing our mission and ensuring a smooth transition. As for what’s to come after that, my main goal is to take some time with family and friends, to hopefully do some traveling as that becomes possible, and then to think about what challenges to take on next.

I am deeply grateful to so many people here for making this such a special place to work and contribute. Thanks to Mark and Sheryl for their leadership, commitment, and trust. And thanks to all my colleagues. I’m hoping we’ll have the opportunity for some in-person goodbyes in the months ahead and look forward to connecting with you, now and for years to come.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.