Facebook's parent Meta Platforms Inc. Chief Business Officer (CBO) Marne Levine announced on Monday she will leave the tech giant later in 2023.

In an exclusive statement given to Axios, Levine said that "[t]he reason why this time feels right for me is that business results have improved. ... They are moving in the right direction and we have a really solid strategy in place and we have really strong leaders in place, like Nicola and Justin." Levine, who became CBO in 2021, will officially resign on February 21 but remain in an acting position while a transition to her successors is complete.

The two mentioned, Meta's global business vice president Nicola Mendelsohn and Instagram Chief Operating Officer (COO) Justin Osofsky, will split Levine's current duties and become Head of Global Business Group and Head of Online Sales, Operations and Partnerships, respectively.