Meta Sees Another Board Shakeup As Former Trump Adviser Resigns Just Months After Joining
Synopsis
Meta said in a filing with the Securities and Exchange Commission that Powell McCormick notified the company on Friday that she will resign effective immediately.
- Bloomberg reported, citing sources familiar with the matter, that Powell McCormick is now considering retaining an advisory role.
- Meta is also not looking to replace her board seat, the report added.
- Powell McCormick and Stripe co-founder Patrick Collison joined the company’s board in April.
Meta Platforms’ Dina Powell McCormick is stepping down from the board months after joining the company in April.
Meta said in a filing with the Securities and Exchange Commission that Powell McCormick notified the company on Friday that she will resign effective immediately.
Bloomberg reported, citing sources familiar with the matter, that she is now considering retaining an advisory role. McCormick is looking to continue working with Meta’s senior leadership team in a broad ranging role that would be focused on investments and strategic counsel, the report said. Meta is also not looking to replace her board seat, the report added.
Board Shakeups At Meta
Powell McCormick and Stripe co-founder Patrick Collison joined the company’s board in April, as part of the multiple board shuffles at the company. Other new joinees on the board this year include yet another Trump ally and Ultimate Fighting Championship CEO Dana White and Exor CEO John Elkann.
Powell McCormick is a former top adviser to President Donald Trump and has also served as Assistant Secretary of State for Secretary of State Condoleezza Rice under President George W. Bush. She is currently president of Global Client Services at BDT & MSD Partners. Her husband Dave McCormick is a Republican senator from Pennsylvania.
Executive Exits
In addition to board members, executives are also in constant flux at Meta. Last month, it was reported that Chief Revenue Officer John Hegeman is leaving the company as well as Business AI unit head Clara Shih. Chief AI scientist Yann LeCun also announced that he is leaving the company at the end of the year to put up his own startup.
How Did Stocktwits Users React?
On Stocktwits, retail sentiment around Meta stayed within the ‘bearish’ territory while message volume remained at ‘low’ levels.
META stock has gained 13% this year and by 11% over the past 12 months.
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