- Facebook announced it named former deputy Treasury Secretary Robert Kimmitt to its board as the lead independent board director
Facebook has announced that it named former deputy Treasury Secretary (2005-2009) and U.S. ambassador to Germany (1991-1993) Robert Kimmitt to its board as the lead independent board director. Kimmitt is replacing Susan Desmond-Hellmann, former CEO of the Bill & Melinda Gates Foundation.
Cranemere CEO Jeffrey Zients will be stepping down from the board at the company’s next shareholder meeting.
This is not the only recent change to Facebook’s board. Earlier this month, General Catalyst managing director Kenneth Chenault stepped down from the Facebook board. In the announcement, Chenault indicated that he would be joining the Berkshire Hathaway board.
Some of the recent additions to Facebook’s former includes former McKinsey executive Nancy Killefer and The Estée Lauder Companies EVP and Chief Financial Officer Tracey Travis. Dropbox founder & CEO Drew Houston also joined Facebook’s board this year.
Facebook’s other board members include PayPal senior vice president of core markets Peggy Alford, Andreessen Horowitz co-founder and general partner Marc Andreessen, chief operating officer Sheryl Sandberg, and Founders Fund co-founder and partner Peter Thiel.
Key Quotes:
“I am excited to take on this leadership role on Facebook’s board, as the company continues to improve the ways technology and innovation can bring us together. This moment in particular is an incredibly important time to help people connect. I look forward to working Mark, Sheryl and the rest of the board to further the company’s mission.”
-Robert Kimmitt
“Facebook is one of the most significant companies in the global economy, and this is a particularly important time for people to feel connected to each other. I wish Mark, the leadership team and the dedicated Facebook employees the best as they continue to make progress and move forward. I have decided to step down from the board in order to devote more time to my business and other professional engagements.”
-Jeffrey Zients
“The lead independent director is an important role for us, and we’ve been looking for a leader who can bring significant oversight and governance experience. I’m confident that Bob is going to make our board and our company better, and I’m looking forward to working with him as we continue to build important social infrastructure to bring the world closer together. Jeff has been an invaluable source of guidance and advice. We’re very grateful to him for his contribution and I wish him all the best.”
-Facebook CEO and co-founder Mark Zuckerberg
