Facebook names first woman, Sheryl Sandberg, to board

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Sandberg was a vice president at Google before joining Facebook in 2008. She also served as chief of staff for Treasury Secretary Lawrence Summers under former President Clinton.

β€œSheryl has been my partner in running Facebook and has been central to our growth and success over the years,” Zuckerberg said in a statement. β€œHer understanding of our mission and long-term opportunity, and her experience both at Facebook and on public company boards makes her a natural fit for our board.”

Sandberg said she is "deeply passionate" about Facebook's mission to make the "world more open and connected."

The company had a disappointing initial public offering last month. The stock sunk soon after its market debut, although it has since re-gained some of its value.