Facebook Shakes Up Board: Erskine Bowles, Reed Hastings to Step Down
April 12 2019 - 5:10PM
Dow Jones News
By Jeff Horwitz
Two of Facebook Inc.'s longest-serving board members will be
stepping down as part of a shakeup of the company's governance
announced Friday.
Netflix Chief Executive Officer Reed Hastings and former White
House Chief of Staff Erskine Bowles won't be standing for
re-election later this year, the company announced Friday.
Peggy Alford, a senior vice president at Paypal Holdings Inc.,
will be joining the board as its first African-American woman.
Messrs. Hastings and Bowles have served on the Facebook board
since 2011. Only venture capitalist Marc Andreessen and investor
Peter Thiel, two of the company's early backers, have served
longer.
Before joining PayPal earlier this year, Ms. Alford was chief
financial officer of the Chan Zuckerberg Initiative, the
philanthropic organization of Facebook CEO Mark Zuckerberg and his
wife, Priscilla Chan.
(END) Dow Jones Newswires
April 12, 2019 17:55 ET (21:55 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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