Meta's global affairs chief Joel Kaplan to exit after 15 years

Joel Kaplan, Meta's chief global affairs officer, is stepping down after a year in the role and 15 years at the company. Meta has not yet named a successor. Kaplan cited personal reasons for his departure and will assist in the transition. The company recently promoted Tucker Bounds to VP of global communications and public affairs.

Brazil's presidential candidates, Lula and Flavio Bolsonaro, are seeking each other's disqualification over alleged social media interference by Meta. Lula's campaign claims Meta's algorithms harmed his chances, while Meta denies favoritism and says it has complied with court orders. The runoff election is scheduled for October 25, with Lula at 45% and Bolsonaro at 47% in the first round.

Meta President Dina Powell McCormick is leading efforts to form capital partnerships for the company's computing expansion. Meta projects $130B-$145B in capital spending by 2026. CEO Mark Zuckerberg stated she will work with governments and strategic partners to expand long-term capacity. Meta's Q2 2026 capital expenditures were $31.08B. In July, Meta partnered with BlackRock-managed funds for a $14B data center campus in Texas.

Meta's VP of Global Affairs, Joel Kaplan, is leaving the company. Meanwhile, OpenAI's AI models are solving complex math problems faster than humans can comprehend, potentially impacting mathematicians' roles. Additionally, X (formerly Twitter) is experiencing changes in its user dynamics, feeling more like an exclusive clubhouse.

U.S. stocks closed mixed on Tuesday, with the Dow Jones rising 529.85 points, boosted by 3M's 5.82% gain after strong Q3 results and a deal with Amazon. 3M reported $6.6B in sales and raised its full-year EPS guidance. GM fell 6.84% despite beating expectations, citing narrowed full-year EBIT guidance. Health care and small caps outperformed, while tech stocks were mixed. SpaceX reported strong Q3 results, beating expectations.

Meta Platforms' chief global affairs officer Joel Kaplan will depart next year after 15 years. Dina Powell McCormick, president and vice chairman, will take over his responsibilities. Kaplan's exit follows Meta's policy shifts and closer ties with Trump's administration. Meta faces scrutiny over AI's impacts and safety concerns.