Facebook on Friday said Netflix CEO Reed Hastings will not be nominated for re-election at the company’s 2019 annual stockholders meetings.
Hastings has served on the board of the social media company since 2011. The company said it will also not be re-nominating Erskine Bowles the president emeritus of the University of North Carolina, and it will instead nominate Peggy Alford, PayPal senior vice president of core markets.
“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.”
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