Exclusive: Meta adds Dina Powell McCormick, Patrick Collison to board
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Dina Powell McCormick, a prominent banking executive and former Republican official, and Stripe CEO Patrick Collison are joining Meta's board, Axios has learned.
Why it matters: It's part of a broader effort by Meta to expand its board to include more global business experts. The appointments also come as the company looks to curry favor with the Trump administration.
- Powell McCormick previously served as deputy national security adviser to President Donald Trump in his first term and served as assistant secretary of state for State Secretary Condoleezza Rice under President George W. Bush.
State of play: Powell McCormick is joining Meta for the first time. Collison was formerly part of Meta's Advisory Group.
- Both appointments take effect April 15.
- Current Meta board members include a slew of global business and tech experts, such as Silicon Valley investor Marc Andreessen, DoorDash co-founder and CEO Tony Xu, and Broadcom CEO Hock Tan.
Between the lines: Both Powell McCormick and Collison have experience working with small and medium-sized businesses globally, a group that Meta relies on heavily for ad revenue.
- Powell McCormick spent 16 years in senior leadership roles at Goldman Sachs and led the company's 10,000 Small Businesses initiative. She is currently vice chair, president and head of global client services at BDT & MSD Partners, a powerful merchant bank based in Chicago. She is married to U.S. Sen. David McCormick (R-Pa.).
- Collison is the co-founder and CEO of Stripe, a lucrative fintech company that provides businesses payment processing and business management tools. He is also a co-founder of the Arc Institute, a biomedical research organization.
What they're saying: "Patrick is deeply committed to expanding economic opportunity, and Dina has a long career advocating for economic development and supporting entrepreneurs. Their perspective will be extremely valuable to businesses that rely on our services to grow," Meta founder and CEO Mark Zuckerberg said in a statement.
- "Between WhatsApp, Instagram and Facebook, Meta is one of the internet's most important platforms for businesses. I look forward to helping them navigate the abundant opportunities of the coming years," Collison said.
- "I'm excited to bring my experience in finance, government and economic development to support the people and entrepreneurs who use Meta's services," Powell McCormick said.
The big picture: Meta has pushed to make further inroads with Republicans ahead of a landmark antitrust trial beginning Monday.
- In January, it added three new members to its board, including UFC CEO and Trump ally Dana White.
- That same month it rolled back its fact-checking and DEI programs and replaced its policy chief Nick Clegg with Joel Kaplan, a prominent Republican.
- Zuckerberg recently purchased a house in Washington D.C. He dined at Mar-a-Lago on Thanksgiving eve and has visited the president in Washington.
- Meta pledged a $1 million donation to Trump's inauguration.
