Dropbox CEO Drew Houston joins Facebook's board of directors

Key Points
  • Dropbox CEO and co-founder Drew Houston is joining Facebook's board, the company said Monday.
  • Houston will be the eighth director on the company's board.
  • Facebook now has six male directors and two female directors on the board.
Dropbox CEO Drew Houston
Drew Angerer | Getty Images

Dropbox CEO Drew Houston is joining Facebook's board of the directors, the company said Monday.

Houston co-founded Dropbox in 2007 alongside fellow MIT student Arash Ferdowsi. Mark Zuckerberg is a friend of Houston's, attending his birthday party in 2017.

"Drew brings valuable perspective to our board as a leader of a technology company with services used by millions of people and businesses," Facebook CEO Mark Zuckerberg said in a statement. "He thinks deeply about where technology is going and how to build a culture that delivers services that always work well."

Houston said in a statement that he looks forward to working with Zuckerberg and the rest of Facebook's board "on the many opportunities and challenges ahead."

The move comes after Netflix CEO Reed Hastings left Facebook's board last April, after serving on the board for eight years. The company also appointed Peggy Alford, PayPal's senior vice president of core markets, to replace Erskine Bowles, president emeritus of University of North Carolina, on the board.

Houston is the eighth member of Facebook's board. There are now six male directors sitting on the board and two females – Alford and Facebook COO Sheryl Sandberg.

Facebook's stock plunge may be a buying opportunity, analyst says