- Facebook has added a former McKinsey exec and Estée Lauder's CFO to its board of directors.
- 40% of Facebook's directors are now women.
- The appointments come following a period of heightened turnover on Facebook's board.
Facebook has appointed two new members to its board of directors, increasing the diversity and representation of women in the governance of one of the world's influential internet services whose products are used by more than 2 billion people everyday.
On Monday, the social networking giant announced it was adding former McKinsey executive Nancy Killefer and Estée Lauder Companies chief financial officer Tracey T. Travis, expanding the board following a period of heightened turnover.
The two new additions bring the total number of Facebook board members to ten, and means that 40% of Facebook's board members are now women. That's a big change from just eight years ago, when Facebook became a publicly traded company without a single woman on its board of directors.
Facebook has made significant changes to its board in recent years.
In October 2019, Susan Desmond-Hellmann, the CEO of the Bill and Melinda Gates Foundation and lead independent director on the board, departed after six years. Netflix CEO Reed Hastings and businessman Erskine Bowles left in April 2019, while Peggy Alford, the former chief financial officer of the Chan Zuckerberg Initiative, was appointed. Drew Houston, the CEO of Dropbox and a friend to CEO Mark Zuckerberg, was appointed to the board in February 2020.
In addition to Killefer, Travis, Houston, Zuckerberg, and Alford, Facebook's board includes Chief Operating Officer Sheryl Sandberg, investor Marc Andreessen, General Catalyst Managing Director Kenneth Chenault, Founders Fund investor Peter Thiel, and Cranemere Group CEO Jeffrey Zients.
In a statement, CEO Mark Zuckerberg said: ""Nancy brings a great deal of private and public sector experience to this position. She's held a number of senior roles in the US government and was a leader at McKinsey for many years. Tracey has a strong finance and corporate leadership background, not just in her role as CFO at The Estée Lauder Companies, but also serving on the board at Accenture. We have a lot we need to get done in the coming years and I think their experience is going to be very valuable. They're both very accomplished business leaders and I'm looking forward to working with them."
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