Sheryl Sandberg

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Sheryl Sandberg
Sheryl Sandberg 2013.jpg
Sandberg at Facebook London, April 2013
Born Sheryl Kara Sandberg
(1969-08-28) August 28, 1969 (age 44)
Washington, D.C., U.S.
Alma mater Harvard College (A.B.)
Harvard Business School (M.B.A.)
Occupation COO of Facebook
Years active 1991–present
Net worth Increase $1.0 billion (Jan 2014)[1]
Board member of
The Walt Disney Company
Women for Women International
Center for Global Development
V-Day
Religion Judaism[2]
Spouse(s)

Brian Kraff (Divorced 1994)

David Goldberg (m. 2004)
Children 2 (with Goldberg)

Sheryl Kara Sandberg (/ˈsændbərɡ, bərɡ/) (born August 28, 1969[3]) is an American businesswoman, activist, and writer. As of August 2013, she is the chief operating officer of Facebook. In June 2012, she was elected to the board of directors by the existing board members[4] becoming the first woman to serve on Facebook's board. Before Facebook, Sandberg was Vice President of Global Online Sales and Operations at Google, and was involved in launching Google's philanthropic arm Google.org. Before Google, Sandberg served as chief of staff for the United States Secretary of the Treasury.

In 2012 she was named in the Time 100, an annual list of the 100 most influential people in the world according to Time magazine.[5] As of January 2014, Sandberg is reported to be worth over US$1 billion, due to her stock holdings in Facebook and other companies.[6]

Early life and education[edit]

Sandberg was born in 1969, in Washington, D.C., in a Jewish American family,[2] the daughter of Adele (née Einhorn) and Joel Sandberg, and the oldest of three children.[3][7] Her father is an ophthalmologist, and her mother holds a PhD and worked as a French teacher before concentrating on raising her children.[8] Her maternal grandmother was Rosalind Einhorn who passed away at the age of 94 in November 2011 had a profound impact in her life.[9] Her grandmother grew up in a poor Jewish American family in a crowded apartment in New York City, finished high school in spite of being pulled out during The Great Depression, then went on to community college and graduated from U.C. Berkeley and later saved her family business from financial ruin.[10][11] Her brother is also a Harvard graduate and became a pediatric neurosurgeon who now practices at Miami Children’s Hospital and her sister Michelle is a fellow Harvard graduate who now is a pediatrician based in Santa Clara, California.[12]

Her family moved to North Miami Beach, Florida, when she was two years old.[2] She attended North Miami Beach High School, where she was "always at the top of her class." and graduating ninth in her class with a 4.646 grade point average.[2] She was a member of the National Honors Society and on the senior class executive board.[13] Sandberg taught aerobics in the 1980s while in high school.[14]

In 1987, Sandberg enrolled at Harvard College and graduated in 1991 summa cum laude with an A.B. in economics and was awarded the John H. Williams Prize for the top graduating student in economics.[15] While at Harvard, Sandberg met then-professor Larry Summers who became her mentor and thesis adviser.[16] Summers recruited her to be his research assistant at the World Bank,[2] where she worked for approximately one year on health projects in India dealing with leprosy, AIDS, and blindness.[17]

In 1993, she enrolled at Harvard Business School and in 1995 she earned her M.B.A. with highest distinction.[15]

Career[edit]

Early career[edit]

After graduating from business school in the spring of 1995, Sandberg worked as a management consultant for McKinsey & Company for approximately one year (1995-1996). From 1996 to 2001, Sandberg served as Chief of Staff to then United States Secretary of the Treasury Larry Summers under President Bill Clinton, where she helped lead the Treasury's work on forgiving debt in the developing world during the Asian financial crisis.[17] She joined Google Inc. in 2001, serving as its Vice President of Global Online Sales and Operations from November 2001 to March 2008. She was responsible for online sales of Google's advertising and publishing products as well as for sales operations of Google's consumer products and Google Book Search.[18]

Facebook[edit]

In late 2007, Mark Zuckerberg, co-founder and chief executive of Facebook, met Sandberg at a Christmas party held by Dan Rosensweig; at the time, she was considering becoming a senior executive for The Washington Post Company.[2] Zuckerberg had no formal search for a COO, but thought of Sandberg as "a perfect fit" for this role.[2] They spent more time together in January 2008 at the World Economic Forum in Davos, Switzerland, and in March 2008, Facebook announced hiring Sheryl Sandberg away from Google.[19]

After joining the company, Sandberg quickly began trying to figure out how to make Facebook profitable. Before she joined, the company was "primarily interested in building a really cool site; profits, they assumed, would follow."[2] By late spring, Facebook's leadership had agreed to rely on advertising, "with the ads discreetly presented"; by 2010, Facebook became profitable.[2] According to Facebook, Sandberg oversees the firm's business operations including sales, marketing, business development, human resources, public policy and communications.[20]

Sandberg's executive compensation for FY 2011 was $300,000 base salary plus $30,491,613 in FB shares.[21] According to her Form 3, she also owns 38,122,000 stock options and restricted stock units (worth approx. $1.45 billion as of mid-May 2012) that will be completely vested by May 2022, subject to her continued employment through the vesting date.[22]

In 2012 she became the eighth member (and the first female member) of Facebook's board of directors.[23]

In October 2012, Business Insider reported that stock units (appx. 34 million) vested in Sandberg's name accounted for nearly US$790,000,000. Facebook withheld roughly 15 million of those stocks for tax reasons, leaving Sandberg with nearly US$417,000,000.[citation needed] The media reported on August 12, 2013 that Sandberg sold 2.4m shares in the company worth US$91 million (£51 million)—5 percent of her total stake in the company.[24]

In April 2014, it was reported that Sandberg had sold over half of her shares in Facebook since the company went public. At the time of Facebook's IPO she held approximately 41 million shares in the company, and after several reounds of sales she is left with around 17.2 million shares, a 0.5% stake in the company, worth about one billion dollars.[25]

Personal life[edit]

Sandberg was married at age 24 but divorced a year later. She then went on to marry David Goldberg, the current CEO of SurveyMonkey,[26] in 2004, with whom she has two children.[3][27]

Sandberg and her husband have frequently discussed being in a Shared Earning/Shared Parenting Marriage.[28]

Boards[edit]

In 2009, Sandberg was named to the board of The Walt Disney Company.[29] She also serves on the boards of Women for Women International, the Center for Global Development and V-Day.[20] She was previously a board member of Starbucks with a $280,000 annual salary,[30] Brookings Institution and Ad Council.

Honors[edit]

External video
Sheryl Sandberg.jpg
Sheryl Sandberg: Why we have too few women leaders, TED[31]
Barnard College Commencement Speech, Barnard College[32]
  • Sheryl Sandberg has been ranked one of the 50 "Most Powerful Women in Business" by Fortune Magazine:
  • In 2007, she was ranked #29 and was the youngest woman on the list.[33]
  • In 2008, she was ranked #34.[34]
  • In 2009, she was ranked #22.[35]
  • In 2010, she was ranked #16.[36]
  • She was ranked #21 on that list in 2008.[38]
  • Sandberg was named one of the "25 Most Influential People on the Web" by Business Week in 2009.[39]
  • In 2011, she was ranked #5 on "the world's 100 most powerful women" by Forbes.[40]
  • In 2012, Newsweek and The Daily Beast released their first "Digital Power Index," a list of the 100 most significant people in the digital world that year (plus 10 additional "Lifetime Achievement" winners), and she was ranked #3 in the "Evangelists" category.[41]
  • In 2013, she was ranked #8 on the "The World's 50 Most Influential Jews" conducted by the Jerusalem Post.[42]
  • Also in 2012, she was named in Time 100, an annual list of the 100 most influential people in the world assembled by Time.[5]

Other work and ventures[edit]

In 2008, Sandberg wrote an article for The Huffington Post in support of her mentor, Larry Summers, who was under fire for his comments about women.[43] She was a keynote speaker at the Jewish Community Federation's Business Leadership Council in 2010.[44] In December 2010, she gave a TED speech titled "Why we have too few women leaders."[45] In May 2011 she gave the Commencement Address at the Barnard College graduation ceremony.[46] She spoke as the keynote speaker at the Class Day ceremony at the Harvard Business School in May 2012.[47] In April 2013, she was the keynote speaker for Colgate University's second annual Entrepreneur Weekend.[48]

In 2013, Sandberg released her first book, Lean In: Women, Work, and the Will to Lead, co-written with journalist and TV writer Nell Scovell. It is about business leadership and development, issues with the lack of women in government and business leadership positions, and feminism.[49][50][51][52][53][54]

Lean In[edit]

Sheryl Sandberg released her first book, Lean In: Women, Work, and the Will to Lead, co-authored by Nell Scovell and published by Knopf on March 11, 2013. As of the fall of 2013, The book sold more than one million copies and was on top of the bestseller lists since its launch.[26]

Lean In is a book for professional women to help them achieve their career goals and for men who want to contribute to a more equitable society. The book looks at the barriers preventing women from taking leadership roles in the workplace, barriers such as discrimination, blatant and subtle sexism and sexual harassment.[55] She also examines societal barriers such as the fact that women still work the double day and the devaluing of work inside the home as opposed to work outside the home. Along with the latter there are the barriers that women create for themselves through internalizing systematic discrimination and societal gender roles. Sandberg argues that in order for change to happen women need to break down these societal and personal barriers by striving for and achieving leadership roles. The ultimate goal is to encourage women to lean in to positions of leadership because she asserts that by having more female voices in positions of power there will be more equitable opportunities created for everyone.

A truly equal world would be one where women ran half our countries and companies and men ran half our homes.[56]

The movement[edit]

Sandberg's book inspired the Lean In movement, which aims to help women achieve their professional and personal goals by "leaning into their ambitions".[57] The movement provides support in three key ways: community, education and circles. The community focuses on exchanging information and ideas through stories to encourage other women to lean in. The education section is a collection of free lectures to help individuals develop their skills and learn new ones. Lastly the circle's component focuses on small groups that provide a safe online space for collaboration and support.

Criticism[edit]

Critics claim that Sandberg is “too elitist” and “tone-deaf to the problems average women face as they struggle to make ends meet in a rough economy, while taking care of kids, aging parents and housework”.[58][59]

Sandberg addresses both of these issues in the introduction of her book, stating that she is “acutely aware that the vast majority of women are struggling to make ends meet and take care of their families. Parts of this book will be most relevant to women fortunate enough to have choices about how much and when and where to work”[60] and that “my intention is to offer advice that would have been useful long before I had heard of Google or Facebook and that will resonate with women in a broad range of circumstances.”[61]

Awards and honors[edit]

The book was shortlisted for the Financial Times and Goldman Sachs Business Book of the Year Award (2013).[62]

Bibliography[edit]

References[edit]

  1. ^ CNN Money: "Facebook's Sandberg is now a billionaire" By Chris Isidore January 22, 2014
  2. ^ a b c d e f g h i Auletta, Ken (July 11, 2011). "A Woman’s Place". The New Yorker. Retrieved July 16, 2011. 
  3. ^ a b c "Weddings/Celebrations; Sheryl Sandberg, David Goldberg". The New York Times. April 18, 2004. p. Style. Retrieved July 16, 2011. 
  4. ^ Eldon, Eric (June 25, 2012). "Sheryl Sandberg, Facebook’s Long-Time COO, Becomes First Woman On Its Board Of Directors". TechCrunch. Retrieved October 7, 2012. 
  5. ^ a b Kent, Muhtar (April 18, 2012). "Sheryl Sandberg - The 100 Most Influential People". Time. Retrieved April 20, 2012. 
  6. ^ de Jong, David (January 21, 2014). "Sheryl Sandberg Becomes One of Youngest U.S. Billionaires". Bloomberg. Retrieved January 21, 2014. 
  7. ^ "Benjamin A. Einhorn - Death Notice - Classified". Miami Herald. October 27, 2007 – via Newsbank. 
  8. ^ "The astonishing rise and rise of Sheryl Sandberg". 
  9. ^ "Rosalind Einhorn". JSOnline. Retrieved 5 April 2014. 
  10. ^ Camilla Webster (04.03.13). "Because it Matters: Facebook COO Sheryl Sandberg’s Got New York in Her Blood". New York Natives. Retrieved 4 April 2014. 
  11. ^ Emil Protalinski (January 19, 201). "Facebook COO: 'I'm excited about the impact we're having'". Retrieved 5 April 2014. 
  12. ^ Sara Nathan (1 March 2013). "From teenage aerobics instructor to Facebook’s billion-dollar woman and is the next stop the White House? The astonishing rise and rise of Sheryl Sandberg". Daily Mail. Retrieved 5 April 2014. 
  13. ^ Sara Nathan (1 March 2013). "rom teenage aerobics instructor to Facebook’s billion-dollar woman and is the next stop the White House? The astonishing rise and rise of Sheryl Sandberg Read more: http://www.dailymail.co.uk/news/article-2286584/Facebooks-Sheryl-Sandberg-teen-aerobics-instructor-COO--stop-White-House.html#ixzz2xzdGNbKs". Daily Mail. Retrieved 5 April 2014. 
  14. ^ "Sheryl Sandberg on Facebook's Future". BusinessWeek. April 8, 2009. Retrieved July 22, 2010. 
  15. ^ a b "Executive Bios". Facebook. Retrieved July 22, 2010. 
  16. ^ Hempel, Jessi (April 11, 2008). "Sheryl Sandberg: Facebook's new number two to Zuckerberg". Money.CNN.com. Retrieved July 22, 2010. 
  17. ^ a b "Sheryl Sandberg, An Inside View of Facebook". Newsweek. October 4, 2008. Retrieved July 22, 2010. 
  18. ^ "Executive Profile* Sheryl K. Sandberg, Chief Operating Officer, Facebook, Inc.". Bloomberg Businessweek. Retrieved February 11, 2012. 
  19. ^ Swisher, Kara (March 4, 2008). "Sheryl Sandberg Will Become COO of Facebook". All Things Digital. Retrieved July 22, 2010. 
  20. ^ a b "Management - Facebook Newsroom". FB.com. 2012. Retrieved July 24, 2012. 
  21. ^ "Registration Statement on Form S-1". United States Securities and Exchange Commission. January 2, 2012. Retrieved March 10, 2011. 
  22. ^ "Facebook's Initial Statement of Beneficial Ownership of Securities (Form 3)". Istockanalyst.com. Retrieved October 7, 2012. 
  23. ^ Raice, Shayndi; Lublin, Joann S. (June 25, 2012). "Sheryl Sandberg Joins Facebook Board". Wall Street Journal. Retrieved October 7, 2012. 
  24. ^ Rankin, Jennifer (August 12, 2013). "Sheryl Sandberg sells $90m of Facebook stock". The Guardian. Retrieved August 13, 2013. 
  25. ^ Sheryl Sandberg sells half her stake in Facebook, The Irish Times, April 2, 2014
  26. ^ a b Helft, Miguel (October 10, 2013). "Sheryl Sandberg: The real story". Fortune (Time Inc.). Retrieved October 11, 2013. 
  27. ^ "Sheryl Sandberg (COO of Facebook/Former Chief of Staff US Department of the Treasury)". Amazingwomenrock.com. 
  28. ^ Naziri, Jessica (May 4, 2013). "David Goldberg, SurveyMonkey CEO and husband of Sheryl Sandberg". Los Angeles Times. Retrieved 19 October 2013. 
  29. ^ "UPDATE 2-Disney nominates Facebook's Sandberg to board". Reuters. December 23, 2009. Retrieved July 22, 2010. 
  30. ^ Arrington, Michael (March 27, 2009). "Facebook COO Sandberg Joins Starbucks Board Of Directors". Techcrunch.com. Retrieved July 22, 2010. 
  31. ^ Sheryl Sandberg: Why we have too few women leaders December 2010; accessed March 12, 2013.
  32. ^ Barnard College Commencement Speech May 17, 2011; accessed March 12, 2013.
  33. ^ Benner, Katie. "The Power 50 - Sheryl Sandberg (29) - FORTUNE". Money.CNN.com. Retrieved July 22, 2010. 
  34. ^ "50 Most Powerful Women - Sheryl Sandberg (34)". Money.CNN.com. October 16, 2008. Retrieved July 22, 2010. 
  35. ^ "50 Most Powerful Women - 22. Sheryl Sandberg". Money.CNN.com. September 15, 2009. Retrieved July 22, 2010. 
  36. ^ "50 Most Powerful Women - 16. Sheryl Sandberg (16) - FORTUNE". Money.CNN.com. September 29, 2010. Retrieved September 29, 2010. 
  37. ^ "The Other Women to Watch". The Wall Street Journal. November 19, 2007. Retrieved July 22, 2010. 
  38. ^ "50 Women to Watch in 2008". The Wall Street Journal. November 10, 2008. Retrieved July 22, 2010. 
  39. ^ "The 25 Most Influential People on the Web: The Adult: Sheryl Sandberg". BusinessWeek. Retrieved July 22, 2010. 
  40. ^ "The world's 100 most powerful women". Forbes. Retrieved August 24, 2011. 
  41. ^ "Digital Power Index: Evangelists #3". The Daily Beast. Retrieved October 7, 2012. 
  42. ^ "50 most influential Jew... JPost - Jewish World - Jewish Features". Jpost.com. May 14, 2013. Retrieved September 22, 2013. 
  43. ^ "Sheryl Sandberg: Larry Summers' True Record on Women". Huffington Post. December 8, 2008. Retrieved July 22, 2010. 
  44. ^ "Sheryl Sandberg BLC Breakfast" (video). 2010. Business Leadership Council, Jewish Community Federation and Endowment Fund.
  45. ^ "Sheryl Sandberg: Why we have too few women leaders". TED. December 21, 2010. Retrieved March 12, 2013. 
  46. ^ "Facebook Executive to Barnard Graduates: "This world needs you to run it"". Barnard College. May 17, 2011. Retrieved October 7, 2012. 
  47. ^ "Sheryl Sandberg Addresses the Harvard Business School Class of 2012". YouTube. June 21, 2009. Retrieved October 7, 2012. 
  48. ^ "Facebook’s Sheryl Sandberg helps Colgate launch second annual Entrepreneur Weekend". Colgate University. April 15, 2013. Retrieved May 16, 2013. 
  49. ^ Bort, Julie (February 5, 2013). "Details From Sheryl Sandberg's New Book". Business Insider. Retrieved September 22, 2013. 
  50. ^ "Sheryl Sandberg's 'Lean In' Paints A Portrait Of The Facebook COO As A Young Woman". Huffingtonpost.com. February 26, 2013. Retrieved September 22, 2013. 
  51. ^ Gara, Tom (February 6, 2013). "Exclusive: First Look At Sheryl Sandberg’s New Book". Wall Street Journal. Retrieved September 22, 2013. 
  52. ^ "Lean In: Women, Work, and the Will to Lead (9780385349949): Sheryl Sandberg: Books". Amazon.com. March 11, 2013. Retrieved September 22, 2013. 
  53. ^ Gara, Tom (February 6, 2013). "Sheryl Sandberg’s Breakthrough Hug With Mark Zuckerberg". Corporate Intelligence. Blogs.wsj.com. Retrieved September 22, 2013. 
  54. ^ Traister, Rebecca (March 7, 2013). Sheryl Sandberg's 'Lean In' offers a feminist view from the top. Archived from the original on March 14, 2013. Retrieved September 22, 2013. 
  55. ^ Sandberg, Sheryl (2013). Lean In: Women Work and the Will to Lead. Knopf. p. 8. 
  56. ^ Sandberg, Sheryl (2013). Lean In: Women Work and the Will to Lead. Knopf. p. 7. 
  57. ^ "Home Page". Leanin.org. Archived from the original on September 22, 2013. Retrieved September 22, 2013. 
  58. ^ Dowd, Maureen. "Pompom Girl for Feminism". New York Times Sunday Review Op Ed Pages. 
  59. ^ Lombrozo, Tanya (March 31, 2013). "Should All Women Heed Author's Advise to 'Lean In'?". NPR blog. 
  60. ^ Sandberg, Sheryl (2013). Lean In: Women Work and the Will to Lead. Knopf. p. 10. 
  61. ^ Sandberg, Sheryl (2013). Lean In: Women Work and the Will to Lead. Knopf. p. 11. 
  62. ^ Hill, Andrew (September 18, 2013). "Finalists that are worthy of a bruising debate". Financial Times. Retrieved September 21, 2013. 

External links[edit]

Business positions
Preceded by
Owen Van Natta
Chief Operating Officer of Facebook
2008-present
Incumbent