Mar 23, 2020 - Economy & Business

Uber adds independent board member

Photo: Denis Charlet/AFP via Getty Images

Uber has added Robert Eckert, an operating partner at private equity firm FFL Partners, as its newest independent board member following the recent exit of Travis Kalanick and addition of ex-Match Group CEO Mandy Ginsberg in February.

Why it matters: Eckert is also currently on the board of McDonald's (among others), another company with a large workforce in the service sector.

Editor's note: The story was corrected to note that Mandy Ginsburg was the first new board member after Kalanick's departure.

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Facebook board nears gender parity with two new directors

Photo: Jakub Porzycki/NurPhoto via Getty Images

Facebook has added two new members to its board: Nancy Killefer, a former government official and longtime McKinsey executive, and Tracey T. Travis, the chief financial executive of The Estee Lauder Companies.

Why it matters: The additions double the number of women Facebook directors and make the board 40% female. Despite significant progress in recent years, women still hold just 20% of board seats globally in publicly traded companies.

Ken Chenault to depart Facebook board of directors

Photo: Jakub Porzycki/NurPhoto via Getty Images

Former American Express CEO Ken Chenault will not run for re-election on Facebook's board of directors following disagreements with CEO Mark Zuckerberg over governance and political policies, according to the Wall Street Journal.

Why it matters: Facebook's board of directors has seen significantly changes in a short period of time, with some departing who are not fully in agreement with Zuckerberg. Last month the board added Drew Houston, CEO of Dropbox, and a friend of Zuckerberg's.

Women underrepresented in global boardrooms

Source: MSCI All-Country World Index. Note: Reflects boards of 3,046 publicly traded companies based in 46 countries. Chart: Axios Visuals

Female representation on corporate boards around the world has doubled in the last decade. But board members — who play a big role in corporate decision-making, and earn big money for their labors — are still much more likely to be male.

Why it matters: Today is International Women's Day, and — despite unprecedented pressure from shareholders and others to diversify boardrooms — the prospects for gender parity there are bleak. Researchers say it could take another 25 years before there are just as many women as men in boardrooms worldwide.