Cranemere Group CEO Jeff Zients Will Take Jan Koum’s Seat on Facebook’s Board

He will also join the audit committee

Jeff Zients Facebook

Facebook filled the seat on its board of directors that will be vacated at its annual meeting later this month due to Jan Koum’s departure with Jeff Zients.

Koum, co-founder of WhatsApp, revealed last week that he was leaving the company and would not stand for re-election at the annual meeting May 31.

Zients, CEO of diversified holding company Cranemere Group, will join the board and the audit committee immediately following the annual meeting.

Facebook also announced other committee changes within the board of directors:

  • Kenneth Chenault will join the audit committee.
  • Susan Desmond-Hellmann will shift from the audit committee to the compensation and governance committee.
  • Marc Andreessen will step down from the compensation and governance committee but remain on the audit committee.

Zients currently serves on the boards of Cranemere Group and Timbuk2 Design, and he is a director of the Biden Cancer Initiative.

He served as acting director of the Office of Management and Budget from January 2012 to April 2013 and director of the National Economic Council from March 2014 to January 2017 under former President Barack Obama. David Cohen is editor of Adweek's Social Pro Daily.