Meta's Global Affairs Chief Joel Kaplan to Leave Company After 15 Years

what happened

A company spokesperson told Reuters on Tuesday that Joel Kaplan, Meta's chief global affairs officer, will depart next year after 15 years at the company. President and Vice Chairman Dina Powell McCormick will also take on external affairs.

The change comes before the November 3 US midterm elections. McCormick served in the Donald Trump administration during his first term as president. Kaplan was promoted to Meta's top policy role in January last year, when the social media giant scaled back US fact-checking, ended diversity initiatives and moved closer to Trump.

Meta is also among the tech companies under scrutiny over the impact of AI, amid rising concerns about safety and the industry's growing footprint in local communities.

why it matters

For investors, this is a leadership reshuffle at one of the largest social media companies, which typically has a limited effect on the share price. However, amid regulatory pressure around AI and ties with the US administration, policy issues remain significant for Meta.

market impact

META: leadership change in policy and government affairs, likely limited share impact but relevant to regulatory risk

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