Outgoing CEO of American Express Joins Facebook’s Board of directors

Facebook CEO, Mark Zuckerberg, has announced an important announcement just now. According to him, Outgoing CEO of American Express Joins Facebook’s Board of directors. The most interesting thing is that Kenneth Chenault will be the first black director on Facebook’s all-white board.

Outgoing CEO of American Express Joins Facebook’s Board of directors

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Mark Zuckerberg said in a Facebook post,

I’m excited to announce that Kenneth Chenault, the outgoing CEO of American Express, has agreed to join Facebook’s Board of Directors.

I’ve been trying to recruit Ken for years. He has unique expertise in areas I believe Facebook needs to learn and improve — customer service, direct commerce, and building a trusted brand. Ken also has a strong sense of social mission and the perspective that comes from running an important public company for decades.

Chenault, 66, first joined the company in 1981 after graduating from Bowdoin College and Harvard Law School. He quickly climbed the ranks and was named president and chief operating officer in 1997. Then he has held the top job since 2001. Moreover, he is one of the country’s most prominent African American business leaders. He is also one of the best-paid executives in the financial services industry, taking home $22 million in 2016.

Mark also added

Adding someone to our board is one of the most important decisions our board makes. It’s a long process that I take very seriously since this is the group that ultimately governs Facebook. Ken and I have had dinners discussing our mission and strategy for years, and he has already helped me think through some of the bigger issues I’m hoping we take on this year.

The appointment to the Facebook board is effective on Feb. 5

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