Meta Platforms, the parent company of Facebook, announced that entrepreneur Peter A. Thiel will leave the company’s Board of Directors after the annual shareholders meeting, which usually takes place in May.
One of the founders of PayPal, the investor had held the position since 2005 and decided not to run for reelection.
In a statement, the company’s CEO, Mark Zuckerberg, thanked Thiel for his role on the Board.
“Peter has been a valued member of our Board and I am deeply grateful for everything he has done for our company – from believing in us when few would, to teaching me so many lessons about business, economics and the world,” he said.
Thiel, for his part, expressed confidence in Meta’s future and praised Zuckerberg.
According to reports in the American press, Thiel will dedicate himself to efforts to elect Republican candidates in the campaign for the mid-term elections in the United States, which take place in November.
The businessman is one of the main supporters of former President Donald Trump.
The news comes at a time when Meta faces uncertainty regarding data regulation. On Monday, the company said that new regulations in the European Union could lead it to stop offering services in the bloc, including Facebook and Instagram.
In the midst of this, Meta’s share retreated 1.92% on the Nasdaq premarket, around 8:07 am (GMT).
Source: CNN Brasil
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