On Monday, Facebook introduced the addition of two new names to its board of administrators, Nancy Killefer and Tracey T. Travis.
Killefer brings probably beneficial authorities perception to Fb, as she served within the U.S. Division of the Treasury throughout the Obama administration. With final yr’s departure of former Clinton administration chief of employees Erskine Bowles, Fb’s board misplaced considered one of its voices with deep authorities expertise.
Along with her time within the treasury, Killefer held numerous management roles at world consulting agency McKinsey & Firm over 30 years and presently serves on the board of Cardinal Well being. She beforehand held a board seat with Avon.
“I’m excited to affix the board of Fb, an organization that’s on the middle of the largest debates about expertise and society,” Killefer stated within the investor press launch. “The subsequent few years are more likely to form the web for generations to come back and I hope to contribute to Fb’s efforts to be a accountable drive for good on the planet.”
Travis, Fb’s different board choose, joins from Estée Lauder, the place she presently serves as EVP and CFO for the cosmetics firm. Whereas Killefer brings public sector expertise, Travis presents a “robust finance and company management background,” per Zuckerberg, and loads of client and retail finance expertise from roles with Ralph Lauren, Restricted Manufacturers, Inc., Pepsi and Basic Motors. In a press launch, Travis expressed optimism about Fb and the “energy of expertise and innovation to vary our world for the higher.”
Fb misplaced three board members final yr, first Bowles and Netflix CEO Reed Hastings, recognized to conflict overtly with Zuckerberg, and later Dr. Susan Desmond-Hellmann, former CEO of the Invoice & Melinda Gates Basis. Final month, Fb added Mark Zuckerberg’s shut private pal Dropbox CEO Drew Houston to its board. This month’s additions fill within the remaining gaps.
Fb’s board now consists of Zuckerberg, PayPal’s Peggy Alford, Marc L. Andreessen of Andreessen Horowitz, Basic Catalyst’s Kenneth I. Chenault, Dropbox’s Houston, Founders Fund’s Peter Thiel, Cranamere Group’s Jeff Zients, Fb COO Sheryl Sandberg and the 2 new names. With the addition of Killefer and Travis, the board is at its most gender-balanced but, with 4 ladies and 6 males filling the seats.
In recent years, Fb has confronted a number of outdoors proposals from shareholders to take away Zuckerberg from his chairman place, however his board has traditionally held quick. It’s unlikely that the corporate has introduced anybody on significantly keen to rock the boat, however we’ll be following the brand new dynamics as the corporate’s newest board members settle in.