On Thursday, Nick Clegg announced his resignation as Meta Platforms Inc.'s META president of global affairs.
What Happened: Joel Kaplan, a notable Republican and former deputy chief of staff in the George W. Bush administration, will succeed Clegg.
Clegg, who joined Meta in 2018, shared his decision in a Facebook post. Meta CEO Mark Zuckerberg responded to the post expressing gratitude to Clegg for his contributions over the past seven years.
“I’m excited for Joel to step into this role next given his deep experience and insight leading our policy work for many years,” Zuckerberg added.
Kaplan, who was Meta’s vice president of global public policy until now, is known for managing the company’s interactions with conservative figures. His role at Meta has been contentious, with reports suggesting he influenced policy decisions to favor political allies, reported Financial Times.
His appointment coincides with Donald Trump’s return to the White House, as Republicans are poised to control Congress.
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Why It Matters: The leadership change at Meta comes amid efforts to mend its relationship with Trump. Last month, Meta donated $1 million to support Trump’s inauguration events.
Earlier, Clegg acknowledged that Meta might have been overly aggressive in moderating pandemic-related content, a step seen as part of Meta’s strategy to ease tensions with Trump.
In December, Zuckerberg and Trump also reportedly met at Mar-a-Lago, where they discussed future collaborations.
Price Action: Meta's stock rose 2.34% on Thursday, closing at $599.24. Year-to-date in 2024, Meta shares have surged 73.04%, according to Benzinga Pro data.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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