Netflix CEO Reed Waves Bye To Facebook Board Of Directors

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Netlflx CEO Reed Hastings exit Facebook board memeber

On Friday, Facebook told that Netflix CEO Reed Hastings won’t be re-elected at the company’s 2019 annual stockholders meeting. He has served the board since the year 2011. “Reed has served on the board since 2011 (8 years), and we thank him for his service,” a Facebook

The departure of Reed has announced that Paypal Senior Vice president Peggy Alford will be nominated for the year. Peggy is head of operations for the Chan Zuckerberg Initiative, the non-profit organization of Mark and Priscilla. Facebook also said that it will also not re-nominate Erskine Bowles the president emeritus of the University of North Carolina.

“Peggy is one of those rare people who’s an expert across many different areas — from business management to finance operations to product development,” Facebook CEO Mark Zuckerberg said in a statement. “I know she will have great ideas that help us address both the opportunities and challenges facing our company.”

Hastings has been a tussle over the political leanings with Peter Thiel. “I’m so mystified by your endorsement of Trump for our President, that for me it moves from ‘different judgment’ to ‘bad judgment,’” Hastings reportedly told Thiel in the email. “Some diversity in views is healthy, but catastrophically bad judgment (in my view) is not what anyone wants in a fellow board member.”

The prime reason for his departure states to be Facebook’s interest in video streaming services. Facebook has launched its video streaming IGTV for Instagram and Watch for Facebook.

Facebook appraised the ability of Peggy to take control of every other domain. “Peggy is one of those rare people who’s an expert across many different areas — from business management to finance operations to product development,” Facebook CEO Mark Zuckerberg said in a statement. “I know she will have great ideas that help us address both the opportunities and challenges facing our company.”

Peggy Alford if nominated, she will become the first black woman to serve on Facebook’s board. Her nomination will come to vote on May 30 on Facebook’s shareholder meeting. “What excites me about the opportunity to join Facebook’s board is the company’s drive and desire to face hard issues head-on while continuing to improve on the amazing connection experiences they have built over the years,” Alford said of her nomination. “I look forward to working with Mark and the other directors as the company builds new and inspiring ways to help people connect and build community.”

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