Jim Breyer, Facebook's First Big Investor From 2005, Will Be Leaving The Board

Business Insider

View photo

.
Mark Zuckerberg Katy Perry Jim Breyer

Facebook

Jim Breyer (right) with Mark Zuckerberg and Katy Perry

Accel Partners' Jim Breyer will be leaving Facebook's Board of Directors, according to an SEC filing. AllThingsD's Mike Isaac was first to the news.

According to the filing, Breyer told Facebook he would not be standing for re-election at the annual stockholders meeting three days ago. The stockholder meeting is on June 11, and Breyer will remain on Facebook's board until then.

Breyer sold a large chunk of stock in the company – worth $81 million – last November. He led Accel's investment in Facebook in 2005.

Breyer says his departure is the result of other responsibilies getting in the way, such as his  recent election to the Harvard University Corporation Board.

Facebook's statement:  "Jim made many, many important contributions during his long tenure on the board and we were well-served by his presence.We will continue to have a strong relationship with Jim and going forward, we’re thankful we can continue to rely upon the tremendous depth and expertise of our recently expanded board.”



More From Business Insider

Rates

View Comments (0)