3 min read
Meta has announced the addition of two high-profile figures to its board: Stripe CEO Patrick Collison and banking executive Dina Powell McCormick. Both individuals bring a wealth of experience in global business, finance, and government, marking a strategic move by the tech giant to broaden its leadership team with experts well-versed in economic development and entrepreneurship.
Collison is the co-founder and CEO of digital payments company Stripe, valued at $91.5 billion earlier this year. He previously served on Meta’s advisory group. Powell McCormick is joining Meta for the first time. She is a former Deputy National Security Advisor under President Donald Trump and served as Assistant Secretary of State under President George W. Bush. After spending more than 16 years in senior leadership positions within Goldman Sachs, she now works as vice chair of BDT & MSD Partners, where she serves as president and leads global client services activities.
The company faces an important period where expansion worldwide and strategic positioning for upcoming business years remain essential. Powell McCormick, and Collison have strong connections with business owners from the SME sector since these enterprises drive Meta’s advertising ecosystem. Their business experience will provide Meta with better tools to handle upcoming obstacles and discover fresh avenues for development.
Meta continues its strategy to enhance its presence in political and business domains through boardroom diversity. Meta continues to improve its connection with the Trump administration as the company prepares for an upcoming critical antitrust case that will begin on Monday.
In January 2023, Meta invited UFC CEO Dana White and two other members to join its board of directors, but White is particularly prominent for supporting former President Trump. The company experienced leadership shifts when it put Republican expert Joel Kaplan in charge of policy instead of Nick Clegg, who served as policy chief.
Mark Zuckerberg, Meta’s founder and CEO, praised the new appointments, highlighting their commitment to economic development and support for entrepreneurs. “Patrick is deeply committed to expanding economic opportunity, and Dina has a long career advocating for economic development and supporting entrepreneurs. Their perspective will be extremely valuable to businesses that rely on our services to grow,” Zuckerberg said in a statement.
Collison, in his statement, expressed his eagerness to help Meta navigate the future: “Between WhatsApp, Instagram, and Facebook, Meta is one of the internet’s most important platforms for businesses. I look forward to helping them navigate the abundant opportunities of the coming years.”
Meanwhile, Powell McCormick shared her excitement about using her expertise in finance and government to support Meta’s entrepreneurial users, saying, “I’m excited to bring my experience in finance, government, and economic development to support the people and entrepreneurs who use Meta’s services.”
Both Patrick Collison’s and Dina Powell McCormick’s appointments will be effective April 15th , 2025.
