Kenneth I. Chenault Joins Facebook Board of Directors | Facebook Newsroom

Kenneth I. Chenault Joins Facebook Board of Directors | Facebook Newsroom

Today (Jan. 18), Facebook announced that American Express CEO Kenneth I. Chenault will be appointed to the Facebook board of directors, effective February 5th, 2017 which also happens to be the day when Facebook turns 14.

The promise came during a tense meeting between Facebook's chief operating officer Sheryl Sandberg and the Congressional Black Caucus (CBC), who chastised the company for not being diverse enough.

Credit card issuer American Express posted its first quarterly loss in 26 years, and said it would not buy back shares for the next six months, both due to the impact of the recently enacted USA tax reform.

In a blog post celebrating the news, Facebook CEO Mark Zuckerberg praised Chenault's decades-long career with American Express and his expertise in brand building.

In the blog post announcing the appointment, Zuckerberg said, "I've been trying to recruit Ken for years". Most major USA corporations are expecting to be hit with a big one-time tax bill in order to bring that money home.

All eyes on the Senate hours before a possible government shutdown
SENATE MAJORITY LEADER MITCH MCCONNELL: "Senate Democrats represent tens of thousands of children who depend on #CHIP". Trump suggested the country "needs a good shutdown". "I have no interest in shutting the government down", said Brown.

Women now make up 35% of Facebook's global workforce, up from 33%, and hold 19% of technical roles, up from 17%, the Menlo Park, Calif. company said previous year. The percentage of African Americans in senior leadership positions at Facebook has also barely changed.

"I'm pleased to see Facebook taking real action to address the issue of diversity within their company", Kelly said. "Much work still remains to diversify Silicon Valley".

"The upfront charge triggered by the Tax Act reduced our capital ratios and, as a result, while we will be continuing our quarterly dividends at the current level, we plan to suspend our share buyback program for the first half of 2018 in order to rebuild our capital", CEO Kenneth Chenault said in a statement. He is one of a few black leaders at a Fortune 500 company.

He serves on the Boards of IBM, The Procter & Gamble Company, the Harvard Corporation and numerous nonprofit organizations, including the Arthur Ashe Institute for Urban Health, the Smithsonian Institution's Advisory Council for the National Museum of African American History and Culture, the World Trade Center Memorial Foundation, and the Bloomberg Family Foundation. Facebook employed 152 black men and 107 black women out of a total of 11,241 employees in 2016, according to Facebook's EEO-1, the workforce demographics report that the company files each year with the federal government.

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