Facebook appoints Marne Levine as its first chief business officer

Facebook on Thursday appointed Marne Levine, vice president of global partnerships, as the social media giant's first chief business officer. Fifty-year-old Levine said she will oversee Facebook's advertising business and global partnerships, in a post. She will report to Chief Operating Officer Sheryl Sandberg.

“I’m excited to share that I am taking on a new role as Facebook’s Chief Business Officer. This is a new position overseeing Facebook’s advertising business and global partnerships. It is a privilege to be leading a business that enables economic and social change for our global partners, helping them to create their brand, build their community, and grow their business through the innovative solutions we offer across our platforms," Levine said. 

“I believe in Facebook’s mission even more than I did that first time I walked through the door. I’m proud of how, in the last year, we’ve assisted in economic relief efforts, connecting our partners -- from the largest of businesses to the aspiring creators -- to their communities at a time when it was needed most. Through new solutions like Shops and Paid Online Events, we’ve helped entrepreneurs and small businesses to operate online, and in many cases to stay afloat. I’m especially proud to be at one of the most innovative technology companies that continues to build new experiences that support our partners and their long term growth,” she added. 

In Levine's over a decade-long stint at the company, she has served in various executive positions including chief operating officer of Instagram.

Facebook's Chief Revenue Officer David Fischer, who oversaw the advertising business and managed sales and marketing teams worldwide, said earlier this year he will leave the company towards the end of 2021.