Sara Fischer: Meta restructures biz leadership, names new CRO

From Sara Fischer: Meta on Thursday named longtime executive John Hegeman as its new chief revenue officer, a role that was not directly filled after the company’s former CRO David Fischer departed in 2021.

Why it matters: The new leadership restructure is meant to bring Meta’s business and product organizations closer together, according to an internal note to staff from Meta chief operating officer Javier Olivan.

Zoom in: As part of the changes, longtime Meta executive Justin Osofsky will expand his leadership role to become head of partnerships and business development for the company.

• Osofsky will take the lead on developing a go-to-market strategy for Meta’s AI large language model Llama.
• Both Hegeman and Osofsky will continue to report to Olivan.
• Hegeman, who previously led the company’s monetization efforts, will now also oversee Meta’s business group that focuses on small and medium businesses that use Meta’s platforms to reach and transact with their customers.

Catch up quick: Meta never replaced Fischer as CRO after he departed in 2021. Instead, it named longtime Meta executive Marne Levine as chief business officer, overseeing parts of what Hegeman and Osofsky will both now oversee.

• Levine exited Meta in 2023.
• Osofsky and longtime Meta sales executive Nicola Mendelsohn took over her responsibilities at that time. Mendelsohn today continues to oversee Meta’s global business group (responsible for most ad sales), reporting to Olivan.

The big picture: Meta’s business leadership structure has evolved to align its business goals more with product development, instead of focusing chiefly on advertising.

• That switch is motivated, in part, by Meta’s aggressive push into AI. The restructuring of the business leadership roles will put more of an emphasis on the development of a business strategy around Llama and Meta’s AI products.

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