Facebook, which has come under fire for a lack of diversity on its board, named Chief Operating Officer Sheryl Sandberg as its first female board member, reports Bloomberg.
Facebook has been looking to add directors to make its board more inclusive, the story notes. The majority of its users are women.
“This is a great move for Facebook,” said Needham & Co. analyst Laura Martin. “Academic research shows that the greater the diversity on a board, the higher the returns to shareholders are.”
Women’s rights organization UltraViolet said the company shouldn’t end its diversity efforts with a sole female director.
"Our goal has always been and Facebook’s goal ought to be gender parity,” said Shaunna Thomas, co-founder of UltraViolet.
Facebook’s board includes Netflix CEO Reed Hastings and Donald Graham, the CEO of Washington Post Co.