• All Share : 49429.59
    DOWN -0.65%
    Top40 - (Tradeable) : 43998.31
    DOWN -1.02%
    Financial 15 : 14390.96
    DOWN -1.90%
    Industrial 25 : 68998.06
    DOWN -1.04%
    Resource 10 : 26474.26
    UP 1.47%

  • ZAR/USD : 16.1525
    UP 0.81%
    ZAR/GBP : 23.2576
    UP 0.33%
    ZAR/EUR : 18.0554
    UP 1.17%
    ZAR/JPY : 0.1389
    UP 1.61%
    ZAR/AUD : 11.4548
    UP 1.26%

  • Gold US$/oz : 1189.9
    UP 1.40%
    Platinum US$/oz : 925
    UP 1.65%
    Silver US$/oz : 15.32
    UP 2.07%
    Palladium US$/oz : 514
    UP 2.39%
    Brent Crude : 32.95
    DOWN -3.26%

  • All data is delayed by 15 min. Data supplied by Profile Data
    Hover cursor over this ticker to pause.

Mon Feb 08 23:12:12 SAST 2016

Facebook board updates its status

Reuters | 27 June, 2012 00:04
Facebook Chief Operating Officer Sheryl Sandberg delivers a keynote address at Facebook's "fMC" global event for marketers in New York City in this February 29, 2012 file photo. Facebook Inc named Chief Operating Officer Sandberg a director on June 25, 2012 elevating the first woman to a board that includes seven men.

FACEBOOK named COO Sheryl Sandberg a director - the first woman on a board that includes seven men.

For years a vocal critic of the gender imbalance in Silicon Valley's executive ranks, Sandberg, 42, joined Facebook in 2008 and played a central role in guiding it to its $16-billion IPO last month.

Her promotion comes as Facebook seeks to cultivate a more mature image as opposed to the college dorm-room start-up reputation that has dogged the company since Harvard dropout Mark Zuckerberg founded it in 2004.

"Sheryl has been my partner in running Facebook and has been central to our growth and success over the years," Zuckerberg, 28, said.

"Her understanding of our mission and long-term opportunity, and her experience both at Facebook and on public company boards, makes her a natural fit for our board."

Still, even after Facebook elevated Sandberg on Monday, the composition of its board remains a continuing point of scrutiny for a young company that has touched countless industries and boasts close to a billion users.

The California State Teachers' Retirement System, which owns 36922 shares of Facebook, applauded Sandberg's promotion, but urged the company to "continue diversifying the board to greater independence and representation of the company's user base."

The company's board has seven white men, largely Silicon Valley insiders aligned closely with Zuckerberg.


If you have an opinion you would like to share on this article, please send us an e-mail to the Times LIVE iLIVE team. In the mean time, click here to view the Times LIVE iLIVE section.