Mark Zuckerberg, chief executive officer of Facebook Inc., right, Sheryl Sandberg, chief operating officer of Facebook, left, applaud after remotely ring the opening bell for trading at the Nasdaq MarketSite from the Facebook campus in Menlo Park, CaliforniaMark Zuckerberg, chief executive officer of Facebook Inc., right, Sheryl Sandberg, chief operating officer of Facebook, left, applaud after remotely ring the opening bell for trading at the Nasdaq MarketSite from the Facebook campus in Menlo Park, California

The prospectus for Facebook's initial public offering named six executive officers.

Mark Zuckerberg is the only one left.

After 14 years at the social media giant, which turned her into a billionaire and one of the most powerful women in the business world, she announced her departure on Wednesday.

She was named one of two key people by the company in its IPO filing in 2012 because she was so important to Facebook's credibility with customers and investors.

The risk factors section of Facebook's prospectus states that the company depends on the continued services and performance of its key personnel.

All the way through the company's latest annual filing, the language stayed the same. But it has become detached from reality.

In the last few years, Sandberg's star has faded, as unflattering reports emerged of her mishandling of the Russian disinformation story after the 2016 presidential election. According to a report in the Wall Street Journal, Facebook's founder blamed his COO for the Cambridge Analytica scandal.

After a former employee revealed internal documents showing the company knew its products could harm the mental health of teenage girls, the company refused to make changes.

Whitney Tilson wrote a letter to the COO after he appeared on 60 Minutes.

Tilson wrote, "Horrified doesn't even begin to describe my feelings."

On earnings calls, she continued to talk about the ad business and issues like regulation. She has found herself in a difficult spot. Facebook recently reported its first-ever quarter of growth under 10%, and said that revenue in the second quarter could decline from a year earlier.

The company needs to find a new way forward, and perhaps this was the best time for Sandberg to leave, according to an email statement from an analyst.

The metaverse and a future of virtual leaning, play and work have been the focus of the conversation. He was an outsider in his new world.

The company's second largest shareholder was nowhere to be found during the presentation that was used to announce the name change.

The end of an era was declared on Wednesday by Facebook's founder and CEO, Mark Zuckerberg, who wrote that the company's chief operating officer will be named later this year.

A 14-year-old older than Facebook's founder, Sandberg has a lengthy resume from her time at the Treasury Department of the former President Bill Clinton. He was a college dropout who never had a real job.

Facebook's internal operations, including marketing and human resources, were impacted by Sandberg. The vision of the company has always been created by one person. It was a task for engineers to realize that vision.

The idea is that if you never break, you'll be fine.

The head of business development for some of Facebook's most important decisions was what Zuckerberg was supposed to serve as. After seeing data that showed the messaging app was a threat to his business, he orchestrated the $19 billion purchase of the company.

On Wednesday, she said she will continue to serve as a director. Thanks to his super-voting shares, he has permanent control over voting rights for the company's stock. He gets to choose the board members who will follow his vision.

That's the reason why he gets to decide when he wants to change the name of the company to Meta and spend $10 billion on a metaverse that may or may not turn into a real business by the end of the decade.

She told CNBC that she was very optimistic about the future of the company and that she was planning to focus on philanthropy.

The stock has lost half its value since it peaked. It dropped another 2.5% in extended trading after she announced her departure.

Whatever happens now, it's his fault.

CNBC's Julia Boorstin contributed to the report.

The decision to leave was about focusing on philanthropy.