Meta Platforms' (META) Chief Revenue Officer Departs to Start Own Company

Meta Platforms (META) Chief Revenue Officer John Hegeman is leaving the technology giant to start his own company.Meet Your ETF AI Analyst Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow. A spokesperson for Meta confirmed that Hegeman is leaving the company after 17 year, and that he is planning to launch his own company, though what type of concern is not known. 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 Platforms 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 across 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. The exact type of company he plans to start is not yet known publicly. 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.