Facebook Chief Revenue Officer David Fischer to resign by end of year

March 30 (UPI) -- Facebook Chief Revenue Officer David Fischer said Tuesday he will leave the company by year's end.

The head of Facebook's advertising business who manages sales and marketing teams worldwide and has been with the company over a decade, made the announcement in a Facebook post.

"I want to share the news that I've decided to leave Facebook toward the end of this year," Fischer said in the post. "I am immensely proud of all that we have accomplished over the past eleven years, and am optimistic about the path the company is on."

Fischer said he was proud to support business growth "through some turbulent times, including this past year of the pandemic," and prior to his departure, he will focus on "ensuring a smooth transition."

Fischer said he plans to spend time with family and friends and do some traveling.

"David, you are truly an exceptional talent," Facebook Chief Operating Officer Sheryl Sandberg wrote in a comment on his post. "Thank you for the extraordinary impact you've had on our company over the last 11 years. You've helped us build our business to what it is today -- Mark and I and the entire company couldn't be more grateful. I'm cheering you on, always!"

Facebook said it will create a chief business officer position that includes managing partnerships to replace the chief revenue officer position, and that Fischer will be in charge of search for his successor, CNBC reported.

Fischer's announcement comes after Facebook launched a new push last month for personalized advertising as beneficial, especially for small businesses struggling amid the COVID-19 pandemic. The personalized ad campaign followed Apple announcing it will make changes to its iPhone system in the spring that will require apps to get users' permission before tracking data used for marketing.

Prior to Facebook, Fischer worked to build the online advertising network for Google. He also previously served as deputy chief of staff at the U.S. Treasury Department, and prior to that, as an associate editor at U.S. News and World Report.

He received his undergraduate degree at Cornell University and his master's in business administration from Stanford University. He has been recognized as a Young Global Leader by the World Economic Forum, and served on the boards of Alterra Mountain Company and the Ad Council, where he serves as the board chair.