Tuesday, June 26, 2012

Sandberg is first woman on Facebook?s board

By msnbc.com staff

Facebook has named Chief Operating Officer Sheryl Sandberg to its board of directors, making her the first woman on the company?s board, which includes seven men.

Sandberg joined Facebook in 2008 and she has played a key role in leading the social network as it has moved to become a public company with a $16 billion IPO in mid-May.

Her promotion comes as Facebook, a company started in a Harvard dorm room in 2004, seeks to promote a more mature image

The composition of Facebook?s board attracted the attention of the California State Teachers' Retirement System, the second-largest largest pension fund in the United States, which in the past has criticized its lack of diversity.

It applauded Sandberg's promotion to the Facebook board as a good first step toward greater corporate leadership diversity, but also urged the social network to ?continue diversifying the board toward greater independence and representation of the Company's user base.?

Click here to check Facebook's share price.

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