Facebook IPO: An Open Letter To Mark Zuckerberg
Dear Mr. Zuckerberg,
Congratulations are definitely in order. That S-1 filing for Facebook’s IPO was filled with impressive numbers: $3.7 billion in revenue last year, $1 billion in earnings, and $3.9 billion in the bank account.
There was one number that really caught my eye though:
Zero is the number of women listed on Facebook’s Board of Directors.
What I want to know is why?
Many studies show that companies with high percentages of women on the Board perform far better than companies without women on the Board. In fact, the Fortune 500 companies with the highest percentage of female directors have a 62 percent higher return on invested capital than companies with the lowest percentages of female directors, according to one article outlining the business case for women on Boards.
Surely you know the value of women in leadership positions, since Sheryl Sandberg has helped elevate Facebook to unprecedented success. Have you asked her what she thinks about women being shut out of the Boardroom at Facebook? I’d also like to remind you that women make up 58 percent of your users.
In your letter submitted with the IPO filing, you said your goal is “to give everyone a voice and to help transform society for the future.” I challenge you to walk the walk and amplify the voices of women and other minorities by fighting to elect them to Facebook’s Board of Directors. We can’t transform society and leave women behind.