After two years of scandals, Facebook is making some changes to its board.
FacebookThe company is nominating PayPal exec Peggy Alford for election to the board, and she will be the first African-American woman to serve as a director at Facebook.Facebook is shaking up its board of directors — nominating PayPal executive Peggy Alford, and preparing to part ways with the Netflix CEO Reed Hastings and former White House chief of staff Erskine Bowles.
On Friday, the Silicon Valley tech giant announced the news as it released its proxy statement ahead of its annual shareholder meeting on May 30. Alford will be the first African-American woman to join the company's board of directors,"What excites me about the opportunity to join Facebook's board is the company's drive and desire to face hard issues head-on while continuing to improve on the amazing connection experiences they have built over the years,".
The changes come as Facebook struggles to move past two years of damaging scandals, from Cambridge Analytica to the social network's role in spreading hate speech that fueled genocide in Myanmar. Bowles and Hastings will not stand for re-election at the annual shareholder meeting, the company said, bringing their time at the company to an end. The Netflix chief exec leaves as Facebook continues to push into video streaming, beefing up its video products and paying to stream original content on the platform.
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