It was on the blogosphere like wild fire. Facebook announced the addition of a woman to its board, Sheryl Sandberg. Sandberg is the company's COO, Mark Zuckerberg's most trusted business partner, and one of the 12 most powerful women in business, according to Fortune Magazine.
Sandberg's appointment is good news. It shows the company was attentive to stakeholders' concerns about the lack of diversity on its board. It may also indicate a new willingness for the company to consider other areas of concern for users, advertisers - and now - shareholders.
Sandberg's a catch, but her appointment was hardly a bold move. She should have been appointed to the board long before the IPO, as an example of Facebook's commitment to sound governance. She's an insider with a strong allegiance to Zuckerberg. A bolder move would have been to appoint an independent woman who brings similar talents to the board, but also a fresh perspective.
Still, with this announcement, the list of 2020 Z companies just got a little shorter. We hope that Sandberg will use her influence and clout to bring on another woman director soon, and that the board will get to 20% or more soon.
For those of us who worked on moving the needle at Facebook, it was a gratifying moment. We can be proud of our efforts. But with only 14.6% board seats held by women in the F1000, we still have a lot of work to do.