Peggy Alford, the senior vice president, core markets at PayPal—has been tapped to serve on Facebook’s board of directors—and is in position to become the first black woman to sit on its board.
Alford has the backing of Facebook CEO Mark Zuckerberg. In a released statement the Facebook founder said, “Peggy is one of those rare people who’s an expert across many different areas — from business management to finance operations to product development. I know she will have great ideas that help us address both the opportunities and challenges facing our company.”
She has been with PayPal since 2019 and also was the chief financial officer and head of operations for the Chan Zuckerberg Initiative—a philanthropic organization founded by Mark Zuckerberg and his spouse Priscilla Chan.
A Silicon Valley veteran, Alford has also held executive positions at eBay and Rent.com. She hails from a family of six children. Her mother has a doctorate’s degree in mathematics and computer science from the University of Pittsburgh.
Alford has a bachelor’s degree in accounting and business administration from the University of Dayton in Ohio where she ran track and cross country. Focused on her career for much of her life, she had her first child at 41 and her second when she was 45. In an interview posted on PayPal’s website she spoke about work-life balance, “Balance can be extremely difficult for working mothers trying to find that happy medium of continuing to advance their careers and doing what they feel they need to do at home. Often women will opt out or feel like they can’t seek out that next big opportunity because it may take away from their responsibilities at home.”
“What excites me about the opportunity to join Facebook’s board is the company’s drive and desire to face hard issues head-on while continuing to improve on the amazing connection experiences they have built over the years,” she said in a statement. “I look forward to working with Mark and the other directors as the company builds new and inspiring ways to help people connect and build community.”
Alford will still have to be voted to the board during the next Facebook shareholders’ meeting. Typically, nominees, particularly ones supported by a company’s CEO are appointed to the board so her position as a board member is likely.
Upon her official appointment, Alford would be the second African American on Facebook’s board. Last year, retired American Express CEO Ken Chenault joined the social media company’s board. Zuckerberg said at the time that he has been trying to recruit Chenault “for years.”
Alford is on the Black Enterprise 2018 Registry of Corporate Directors for her role as a member of the board of The Macerich Co., a real estate investment trust.