(Reuters) – Facebook Inc on Thursday named the U.S. Treasury’s former deputy secretary, Robert Kimmitt, to its board as lead independent director, effective immediately.

“The lead independent director is an important role for us and we’ve been looking for a leader who can bring significant oversight and governance experience,” Facebook Chief Executive Officer Mark Zuckerberg said in a statement.

The company also said Jeffrey Zients, CEO of Cranemere Group Ltd, will not stand for re-election at the annual meeting of stockholders. Zients, however, will continue to serve as a director till the day of the meeting.

Source:www.reuters.com

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