Netflix CEO Reed Hastings will not stand for re-election to Facebook’s board as company reorganises board

Posted by
Facebook has announced that two of its longest-serving directors, Reed Hastings and Erskine Bowles, will not stand for re-election at the company’s AGM. Reed Hastings, Netflix’s CEO, leaves the board as Facebook aims to become a more relevant player in the entertainment business. Erskine Bowles, who served as White House Chief of Staff for President Bill Clinton, had expressed concerns on Facebook being potentially used to for political interference. The company also announced that Peggy Alford, a senior PayPal executive and the former CFO of the Chan Zuckerberg Initiative, will be joining the board in May. Alford will be the first African-American woman to serve on the company’s board.