Facebook now has 40% women representation on its board after two appointments

Prashasti Awasthi Mumbai | Updated on March 10, 2020

Facebook is set to have 40 per cent women representation on its board after it appointed Tracey Travis, the chief financial officer of Estee Lauder and McKinsey executive Nancy Killefer to its board of directors, Financial Times reported.

The appointments are effective immediately, which means the company has already met the new criteria set by California law to have at least three women on the board of around six people by 2021.

In a statement, Mark Zuckerberg, Facebook’s founder, 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 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.

According to the FT report, Facebook witnessed a set back after its long time directors stepped down last year. That included Reed Hastings, Netflix chief executive, Erskine Bowles, a Democratic political figure, and Susan Desmond-Hellmann, chief executive of the Gates Foundation, all stepped down last year.

Last month, the company named Drew Houston — the chief executive of Dropbox and a friend of Mark Zuckerberg — to its board.

Published on March 10, 2020

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