Along with Erskine Bowles, the fomer White House chief of staff and University of North Carolina president, Hastings had served on the board since 2011. Bowles is also exiting.
In an announcement of the board reshuffling, Facebook founder and CEO Mark Zuckerberg said PayPal executive Peggy Alford has been nominated for a board seat. Shareholders will take vote in the election of Alford and the re-election of other board members at the company’s annual meeting on May 30.
“Peggy is one of those rare people who’s an expert across many different areas — from business management to finance operations to product development,” Zuckerberg said. “I know she will have great ideas that help us address both the opportunities and challenges facing our company.”
Alford and Zuckerberg got to work together closely from 2017 to February of this year when Alford served as CFO and head of operations for the philanthropic Chan Zuckerberg Initiative. Her current title is SVP of Core Markets for PayPal.
“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,” she said. “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.”
If she is elected Alford would become the first African-American woman to serve on Facebook’s board.