Meta Platforms, Inc. META announced Friday it will appoint Dina Powell McCormick and Stripe CEO Patrick Collison to its board of directors, effective April 15. The move increased the board's size to 15 members.
What Happened: Meta CEO Mark Zuckerberg took to Facebook to share the development, stating, “Many businesses rely on our services to grow – and Dina and Patrick will help us continue to serve them.”
McCormick brings 16 years of senior leadership experience from her time at Goldman Sachs Group Inc. GS. She also held key government roles, including deputy national security adviser during former President Donald Trump's first term, as well as senior White House adviser and assistant secretary of state under President George W. Bush.
She currently serves as vice chair, president, and head of Global Client Services at BDT & MSD Partners.
Meanwhile, Collison, who co-founded fintech giant Stripe in 2010, has served as part of Meta's external advisory group, which offers counsel on technology and product strategy.
“He’s been an advisor to our company, and I’m glad he can work with us in a new capacity on the board,” Zuckerberg stated in his post.
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Why It Matters: These appointments follow a series of high-profile changes to Meta's leadership and policy agenda. In January, Meta appointed three new directors to its board, including UFC President Dana White, a close Trump ally.
The company has also made sweeping internal changes since the beginning of this year, like scrapping its U.S. fact-checking program, dissolving diversity initiatives, and promoting longtime Republican operative Joel Kaplan to chief global affairs officer.
Meta's current board also includes venture capitalist Marc Andreessen and DoorDash DASH CEO Tony Xu.
Meta's current direction is viewed as an attempt to build rapport with the current administration, coming on the heels of Zuckerberg's $1 million contribution to Trump's inauguration.
Trump has previously accused Meta of suppressing conservative viewpoints.
Earlier, Zuckerberg also shared that officials from the Joe Biden administration had at times urged Meta to take down specific content—requests that the company pushed back on.
Meta has earned an impressive growth score of 74.90%, according to Benzinga Edge Stock Rankings. Click here to see how it measures up against companies like Goldman Sachs, DoorDash, and others.
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