Netflix CEO Reed Hastings To Leave Facebook's Board

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Reed Hastings, chairman and chief executive of Netflix Inc. NFLX, -4.49% will be leaving Facebook Inc.'s FB, +0.90% board along with Erskine Bowles, president emeritus of University of North Carolina, the social media company said Friday. The company also nominated Peggy Alford, senior vice president of core markets at PayPal Holdings Inc. PYPL, +1.90% for election to the board at its annual meeting on May 30. Other current members of the board include Facebook CEO Mark Zuckerberg, Sheryl Sandberg, Facebook's chief operating officer, and Peter Thiel of Founders Fund. Facebook shares rose 0.9% to close at $179.10.

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