Meta Platforms (META) Chief Revenue Officer John Hegeman is leaving the technology giant to start his own company.
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A spokesperson for Meta confirmed that Hegeman is leaving the company after 17 years, and that he is planning to launch his own company, though what type of business is not known publicly. Hegeman had served as Meta’s Chief Revenue Officer for about one year.
Going forward, the Chief Revenue Officer’s responsibilities will be handled by another longtime Meta executive, Andrew Bocking, said the company. Hegeman’s departure was one of several changes among Meta’s senior leadership team as the company executes on its artificial intelligence (AI) strategy.
Role at Meta Platforms
At Meta Platforms, Hegeman led the company’s global monetization efforts. He joined Meta in 2007 and has been involved in shaping the company’s lucrative online advertising business across social media platforms such as Facebook and Instagram.
Hegeman also managed teams in Meta’s advertising, feed, stories, notifications, and integrity departments. In March of this year, he joined the board of directors at online brokerage Robinhood Markets (HOOD). Hegeman holds a degree in mathematics and economics from Stanford University.
Is META Stock a Buy?
The stock of Meta Platforms has a consensus Strong Buy rating among 42 Wall Street analysts. That rating is based on 34 Buy, seven Hold, and one Sell recommendations issued in the last three months. The average META price target of $846.48 implies 42.87% upside from current levels.
