MENLO PARK, Calif.,
March 26, 2020 /PRNewswire/
-- Facebook (Nasdaq: FB) today announced that Robert M. Kimmitt, former Deputy Secretary of
the Treasury and U.S. Ambassador to Germany, has been appointed to the company's
Board of Directors as lead independent director, effective
immediately. Additionally, Jeffrey D.
Zients, CEO of The Cranemere Group Limited, has
informed the company that he will not stand for re-election to
Facebook's Board of Directors at the company's 2020 Annual Meeting
of Stockholders. Zients will continue to serve as a director until
the date of the Annual Meeting.
Mark Zuckerberg, founder and CEO
of Facebook, said, "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 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."
"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 with Mark, Sheryl, and the rest of the board to further the
company's mission," said Kimmitt.
Ambassador Kimmitt has held a wide variety of senior positions
within international business, finance, and public policy. Kimmitt
served as Deputy Secretary of the U.S. Treasury (2005 – 2009),
where he was involved in all aspects of the Treasury's policies and
played a key leadership role on the Committee on Foreign Investment
in the United States (CFIUS).
Kimmitt's public service career also included assignments as U.S.
Ambassador to Germany (1991 –
1993), Under Secretary of State for Political Affairs (1989 –
1991), General Counsel to the Treasury Department (1985 – 1987),
and National Security Council Executive Secretary and General
Counsel at the White House (1983 – 1985). Kimmitt is a decorated
combat veteran of the Vietnam War and attained the rank of Major
General in the Army Reserve.
In addition to government service, Ambassador Kimmitt held roles
as Executive Vice President of Global Public Policy at Time Warner
(2001 – 2005), Vice Chairman and President of Commerce One (2000 –
2001), partner at Wilmer Cutler & Pickering (1997 – 2000), and
managing director at Lehman Brothers (1993 – 1997). He currently
serves as Senior International Counsel at WilmerHale. Kimmitt has
held over two dozen for- and non-profit board positions, including
previous service as a member of six public company boards in
the United States and abroad.
On Zients stepping down from the Facebook board, Zuckerberg
said, "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."
Zients said, "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."
Facebook's current board members are: Mark Zuckerberg; Peggy
Alford, Executive Vice President, Global Sales of PayPal
Holdings, Inc.; Marc L. Andreessen,
Andreessen Horowitz; Kenneth I.
Chenault, Chairman and Managing Director, General Catalyst;
Drew Houston, Co-Founder and CEO,
Dropbox, Inc.; Nancy Killefer,
Retired Senior Partner, McKinsey & Company; Robert M. Kimmitt, Senior International Counsel,
WilmerHale LLP; Sheryl K. Sandberg,
Chief Operating Officer, Facebook, Inc.; Peter A. Thiel, Founders Fund; Tracey T. Travis, Executive Vice President and
Chief Financial Officer, The Estée Lauder Companies, Inc.; and
Jeffrey D. Zients, CEO, The
Cranemere Group Limited.
About Facebook
Founded in 2004, Facebook's mission is to give people the power
to build community and bring the world closer together. People use
Facebook's apps and technologies to connect with friends and
family, find communities and grow businesses.
Contacts
Investors:
Deborah Crawford
investor@fb.com / investor.fb.com
Press:
Ryan Moore
press@fb.com / newsroom.fb.com
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SOURCE Facebook