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Facebook names former Treasury Department official as lead independent director

Facebook Inc. appointed former U.S. Deputy Secretary of the Treasury and Ambassador to Germany Robert Kimmitt to the company's board as lead independent director.

Ambassador Kimmitt has held a variety of senior positions within international business, finance and public policy, Facebook said March 26. He currently is senior international counsel at WilmerHale LLP.

The company said The Cranemere Group Ltd. CEO Jeffrey Zients will not stand for reelection to Facebook's board at the company's 2020 annual stockholders meeting. Zients will continue as a director until then.

Kimmitt succeeds Susan Desmond-Hellmann, who stepped down as lead independent director of Facebook in October 2019.