Facebook names two new directors, making board 40% women [Business News Network (BNN) Energy & Resources (Canada)]
Meta Platforms, Inc. - Class A (FB)
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Source: Business News Network
Facebook names two new directors, making board 40% women Facebook Inc. named two new directors, appointing Tracey Travis, chief financial officer of Estée Lauder Cos., and longtime McKinsey & Co. executive Nancy Killefer at a time when the board’s role at the social media company is under intense scrutiny. The addition of the two women, announced in a statement Monday, makes Facebook’s board 40% female. Fewer than 10% of companies in the S&P 500 have reached that level of gender representation, according to data compiled by Bloomberg. Adding Travis also means the board has two black women. The directors are joining the technology giant at a time of turmoil, as regulators and lawmakers question whether the company has monopoly powers and whether its advertising business relies too much on users’ personal data. Facebook’s 10-member board still has little control over the direction of the company, where Chief Executive Officer Mark Zuckerberg holds the majority of the voting power. “The
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