- Jul 26, 2021
Jeff Zients, the present CEO of Cranemere, an investment and holding firm, will be joining the Board of Directors for Facebook. He also has experience in serving the Obama administration from January 2012 to April 2013, as acting Director of Office of Management and Budget, and as the Director of the National Economic Council.
Facebook CEO Zuckerberg in his announcement has said that Jeff’s experience will be useful while progressing with “a broader view of our responsibility.” Zuckerberg further added that Jan Koum, one of the two co-founders of WhatsApp will be stepping down from the board.
Zuckerberg concluded the announcement post on Facebook by thanking Susan D. Desmond-Hellmann, their lead independent director, for majorly contributing to board plans and everything Facebook needs for the future.
I am proud to join the Facebook Board and I look forward to working with Mark and the other directors as the company builds for the future. This is an exciting time for the company, and I am delighted to be part of the Board as the company works to face the opportunities and challenges of trying to bring the world closer together. – Jeff Zient, present CEO of Cranemere
Zients has other experiences under his career belt so far: founded and managed Portfolio Logic LLC from 2003 to 2009, played various roles for Advisory Board Company from 1992 to 2004, served as Chairman for Corporate Executive Board from 2000 to 2001. A B.A. graduate in political science from Duke University, he presently serves for Timbuk2 Design and is a director of Biden Cancer Initiative.
Zients will join the Board of Directors for Facebook that consists of Marc L. Andreessen, Andreessen Horowitz; Erskine B. Bowles, Kenneth I. Chenault, Desmond-Hellmann, Bill and Melinda Gates Foundation, Jan Koum (for now), Reed Hastings, Sheryl K. Sandberg, Peter A. Thiel, and of course Mark Zuckerberg.
Among other changes in the board are: Kenneth Chenault who will be joining the Audit Committee, Desmond-Hellman of Audit Committee will move to Compensation & Governance Committee, and Marc Andreessen of Audit Committee will step down from Compensation & Governance Committee.
Timelines haven’t been revealed for implementations, but Facebook will surely make it all happen soon and be on course for future developments. Stay tuned for new innovations from the tech leader.