Meta Platforms Inc. is undergoing changes in its board of directors, with Chief Executive Officer Mark Zuckerberg announcing the addition of two new members. This move comes after the recent announcement of the departure of longtime board member and executive Sheryl Sandberg.
Joining Meta’s board is Broadcom Inc. CEO Hock E. Tan and John Arnold, the co-founder and co-chair of Arnold Ventures, a philanthropic private investment firm. Zuckerberg expressed his excitement about the new appointments, highlighting the expertise Tan and Arnold bring to the table, particularly in the areas of silicon and energy infrastructure, crucial for Meta’s long-term vision, including the development of artificial general intelligence.
With the inclusion of Tan and Arnold, Meta’s board now comprises 11 members, including Sandberg, who is set to step down at the company’s annual shareholder meeting in May. It’s worth noting that Meta’s stock structure grants Zuckerberg sole control over the company, with more than 60% of the vote.
Prior to joining Meta’s board, Tan had previously collaborated with the company in his capacity at Broadcom, with Meta having paid over $500 million to Broadcom for products and services related to design, development, and engineering in the past year. On the other hand, Arnold, a billionaire and former hedge fund manager, has been involved in criminal justice reform initiatives, aligning with Zuckerberg’s investment company, CZI. Both Arnold and his spouse have also committed to The Giving Pledge, mirroring the philanthropic endeavors of Zuckerberg and his wife.