Three new additions to Meta’s board of directors.
Today’s tech news is Mark Zuckerberg’s company announcing the addition of John Elkann, chairman of Stellantis, to Meta’s board of directors, along with Dana White, president and CEO of UFC, the world’s leading mixed martial arts organization, and Charlie Songhurst, a technology investor with investments in over 500 startups globally.
The three new board members join founder Zuckerberg: Peggy Alford (formerly Executive Vice President, Global Sales, at PayPal), Marc Andreessen (Andreessen Horowitz), John Arnold (co-founder of Arnold Ventures), Drew Houston (co-founder and CEO of Dropbox), Nancy Killefer (retired senior partner of McKinsey Company), Robert Kimmitt (lead independent director of Meta and senior international counsel at WilmerHale), Hock Tan (president and CEO of Broadcom), Tracey Travis (special adviser to the CEO of The Este’e Lauder Companies), and Tony Xu (co-founder and CEO of DoorDash). (Source: Borsa Italiana)
Meta’s board of directors currently has 13 members, of which only three are women: Peggy Alford, Nancy Killefer, and Tracey T. Travis, making female representation 23%.
Although Meta is not directly subject to European regulations, as a US company, we are far from the percentages established by the European Union’s Gender Balance on Corporate Boards Directive:
- 40% of non-executive directorships must be held by the underrepresented gender, or
- 33% of total board seats (including executive and non-executive) must be reserved for the underrepresented gender.
Meta should increase the number of women on its board to at least five out of 13 to meet the 33% target, although it should be noted that it is already showing progress compared to the standards of the tech industry, where gender parity is still far from being achieved.
Gender diversity is no longer an option, but a necessity for modern and responsible companies. Meta could seize this opportunity to contribute to a cultural shift in the tech sector, which is crucial in shaping our future.
