Facebook has announced that Peggy Alford, Senior Vice President, Core Markets of PayPal, has been nominated for election to the company’s board of directors at its annual meeting of stockholders to be held on May 30, 2019. Netflix CEO Reed Hastings and former White House chief of staff Erskine Bowles will be leaving the board.
Alford will be the first African-American woman to join the company's board of directors, which has previously been criticised over its lack of diversity. Alford has previous ties to Zuckerberg as she was the chief financial officer for the Chan Zuckerberg Initiative, the family's philanthropic vehicle, from September 2017 to February 2019.
In a statement, Facebook's Founder Chairman/CEO Mark Zuckerberg said: “Peggy is one of those rare people who’s an expert across many different areas — from business management to finance operations to product development. I know she will have great ideas that help us address both the opportunities and challenges facing our company.”
The departure of Reed Hastings comes at the same time as Facebook continues to push into video streaming and beefing up streaming of original content on the platform. Hastings reportedly clashed with fellow board member Peter Thiel over his support for the Trump administration.