Thiel, an early Facebook investor, will not stand for re-election to the board at the company’s 2022 annual stockholders’ meeting.
Highlights
- Peter Thiel will step down from the board of Facebook owner Meta.
- Thiel will not stand for re-election to the board at the company’s 2022 annual stockholders’ meeting.
- Thiel invested $500,000 in thefacebook.com in 2004, becoming the first significant outside investor in the fast-growing social networking site.
- Thiel has been on the Facebook board since 2005, but his tenure with the company has been fraught with controversy.
- Thiel was an active booster for Donald Trump during the 2016 presidential campaign, even as the Republican candidate was expressing extreme views on immigration and was facing accusations of sexual misconduct.
- He will continue to serve on the board until the annual meeting, the company said.