Well it’s about time. According to the Wall Street Journal, Facebook has named Chief Operating Officer Sheryl Sandberg to the company’s board, making her the first female board member for the social network.
We couldn’t believe it back in February of this year when we found out that Facebook, a company that has 800 million female users (the majority) and Sheryl, a proponent of women’s progress in the workplace, at its helm had zero women on its board. Malli Gero, executive director of 2020 Women on Boards, said in February, “It’s surprising and disappointing that Facebook has zero female directors because Sandberg is so powerful at the company and so outspoken in favor of women advancing.”
Sheryl Sandberg is arguably the face of Facebook. Though founder Mark Zuckerberg is better known, Sheryl does more speaking engagements and interviews on behalf of the company. This is why it seemed natural for Facebook to want to put Sheryl on its board but it took them a while to come to this conclusion. Sheryl has been my partner in running Facebook and has been central to our growth and success over the years,” said Zuckerberg in a press release. Sandberg also serves on the board of the Walt Disney company.
This is especially great news as the 2010 Catalyst Census found women holding 15.7% of board seats on Fortune 500 companies, in 2011, and only 12 out of those 500 companies actually had female CEOs. Hopefully other young companies will follow Facebook’s example and get more ladies on the board.
With the Facebook IPO, this has been an amazing year for Sheryl. Besides being the first woman on the board she could potentially have $1.6 billion in paper riches by the end of 2012 with her 27 million shares of the company. And let’s not forget, she leaves work at 5:30 pm everyday.