Facebook has appointed two new directors to its board: Estee Lauder CFO Tracey Travis, and former McKinsey & Company director Nancy Killefer. Why is this significant? Because it brings the percentage of women on Facebook’s board up from 25% (two out of eight members) to 40% (four out of ten). Not gender parity just yet, but another step towards it. 30% of Facebook’s board are people of colour, also.
Of the new appointments, CEO Mark Zuckerberg said: “We have a lot we need to get done in the coming years and I think their experience is going to be very valuable. They’re both very accomplished business leaders and I’m looking forward to working with them.”
How does Facebook’s board gender parity compare to some of the big music companies? Universal Music’s executive management board’s percentage of women is 18% (two out of eleven); Warner Music’s is 9% (one out of eleven); Spotify’s is 30% (three out of ten); Tencent Music’s is 11% (one out of nine); Live Nation’s is 15% (two out of 13) and so on.
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