Joined a board criticized for its lack of independence for the first time since the start of 2020
Mark Zuckerberg is the chairman and CEO of META and controls most of the company’s voting stock through supervoting shares. In recent years the majority of Meta’s external shareholders have voted to set aside roles the company has declined, and some investors have said they believe the board is too much of Mr. Zuckerberg. Grateful.
Several directors with significant executive experience have left the board in recent years, including Netflix CEO Reed Hastings and Kenneth Chenault, the former head of American Express Inc.
Mr. Xu has experience running one of the fastest growing companies in Silicon Valley. He co-founded DoorDash in 2013 as a student at Stanford University. The 37-year-old executive worked as a dish washer at his mother’s Chinese restaurant after moving to America as a child, and drew on some of that experience in his early days. Days on DoorDash.
The pandemic served as an unexpected boon for food delivery, with DoorDash as the country’s largest food-delivery app, thanks to its strong foothold in the suburbs, unlike rival Uber Technologies. Inc. Of
Eats & Grubhub Inc.
While DoorDash continued to grow despite the restaurant’s reopening this summer, profits largely outpaced the cost-intensive food-delivery industry. Mr. Xu expanded DoorDash’s offerings to more attractive deliveries, such as groceries and alcohol, in an effort to boost customers’ average order size during the health crisis.
Mr. Xu” has built a great service for millions of people getting food and more from hundreds of thousands of restaurants and small businesses. I’ve always thought it’s important to have great tech leaders on our board, and thank Tony as one. Has direct experience running a tech company and solving complex challenges in commerce,” Zuckerberg said in a statement.
A DoorDash spokesperson declined to comment.
The META Board now consists of 10 people: M/s Zuckerberg and Xu, META Chief Operating Officer Sheryl Sandberg; venture capitalists Marc Andreessen and Peter Thiel; Dropbox Inc. Drew Houston, Chief Executive Officer of PayPal Holdings Inc. Peggy Alford, Vice President of McKinsey & Co. Former Partner Nancy Kilfer, Estée Lauder Cos. Inc. Head of Finance Tracy Travis and Mr Kimmitt.
—Preetika Rana contributed to this article.