Meta Adds Two New Board Directors With Sandberg Set To Depart

(Bloomberg) -- Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg is adding two new directors to the company’s board following the announcement in January that longtime board member and executive Sheryl Sandberg is stepping down. 

Broadcom Inc. CEO Hock E. Tan will take a seat on Meta’s board. So will John Arnold, the co-founder and co-chair of Arnold Ventures, a private investment firm focused on philanthropy. 

“I’m excited to share that Hock Tan and John Arnold are joining Meta’s board of directors,” Zuckerberg said in a statement. “As we focus on building [artificial general intelligence], having directors with deep expertise in silicon and energy infrastructure will help us execute our long term vision.”

The two additions bring Meta’s board to 11 members, including Sandberg, who has been a director for more than a decade and plans to step down at Meta’s annual shareholder meeting in May. 

Meta’s stock structure, which includes a special class known as super-voting shares, means that Zuckerberg single-handedly controls the company with more than 60% of the vote. 

Tan has partnered with Meta before in his role at Broadcom. Last year Meta paid Broadcom more than $500 million for products and services related to design, development and engineering.

Arnold, a billionaire and former hedge fund manager, has invested in criminal justice reform initiatives alongside Zuckerberg’s investment company, called CZI. Like Zuckerberg and his wife, Priscilla Chan, Arnold and his spouse, Laura, have signed The Giving Pledge, a commitment to donate the majority of their wealth.  

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