Facebook CEO Mark Zuckerberg has done a "horrible, horrible" job handling the social media giant's latest crisis, technology investor Jason Calacanis told CNBC on Monday.
He said it's time for COO Sheryl Sandberg to step into the role.
Facebook has come under fire after reports that conservative research firm Cambridge Analytica gained access to data from 50 million Facebook profiles before the 2016 presidential election.
Calacanis, CEO of Inside.com and an early investor in Uber, said Zuckerberg has been "MIA."
"It's a complete and utter failure of leadership," he said on "Closing Bell."
Sandberg is a "better communicator" and a "tremendous leader," Calacanis said.
"She's better at understanding how to manage these issues," he said.
