Meta Platforms spokesperson Andy Stone said in a tweet on Tuesday that a report on Chief Executive Officer Mark Zuckerberg stepping down next year was false.
News website The Leak earlier in the day reported that Zuckerberg was set to resign in 2023, citing an unnamed insider source. The report briefly sent the company's shares up 1%.
Last month, Brad Gerstner, whose fund Altimeter Capital owns hundreds of millions of dollars worth of Meta shares, penned an open letter to the company making it clear that Zuckerberg is losing the trust of investors.
'Like many other companies in a zero-rate world — Meta has drifted into the land of excess — too many people, too many ideas, too little urgency,' he wrote.
'This lack of focus and fitness is obscured when growth slows and technology changes.'
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