Jeffrey Zients Steps Down From Facebook’s Board

Matty-Sways

Jeffrey D. Zients will not seek reelection as an independent director on Facebook’s board of directors.

Zients joined the board in 2018 and will be replaced by Robert Kimmitt. Robert Kimmitt has served in a wide variety of roles, including being a lawyer and former deputy secretary to the Treasury Department.

Zients departure represents a strong trend amongst board members at Facebook. During the past 12 months, five board members have stepped down. Consequently, Zients decision to step down also resulted in a nearly total new makeup for the board of directors within 12 months. Most board members have served two years or less. The longest serving member is Peter Thiel, who joined the board in 2005.

“I wish Mark, the leadership team, and the dedicated Facebook employees the best.” Zients said in a statement.

Before joining Facebook’s board, Zients served an accomplished career, working as an economic advisor to President Obama. During his time working with President Obama, Zients was critical in overhauling the Obamacare site, allowing for the better provision of healthcare to Americans across the country.

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