Facebook announced Friday that Peggy Alford, Senior Vice President, Core Markets of PayPal Holdings, Inc., has been nominated for election to the company's board of directors. The company also said that politician and businessman Erskine Bowles and Netflix CEO Reed Hastings, both of whom have been on Facebook's board since 2011, will not be nominated for re-election at the company's annual shareholder meeting in May.
Why it matters: Alford will become the first black woman nominated to Facebook's board in its history. Bowles' departure is significant, given that he was a vocal critic of Facebook's handling of Russian meddling on its platform. Facebook says it doesn't nominate board members over 72-years-old as a part of a long-standing policy. Bowles is 73.