One of Silicon Valley’s top investors — and a key, early supporter of Mark Zuckerberg’s social network company — won’t stand for re-election at the June 11 annual meeting, Facebook says in an SEC filing. James Breyer has been on the company’s board since 2005. This isn’t a complete surprise: Breyer has been selling Facebook shares at least since October, when he unloaded about $81M of his holdings in the company. Breyer is a board member at News Corp and privately held Legendary Pictures as well as Walmart and Dell. Facebook shares closed Friday at $26.85, well below the $38 IPO price last May but up from the low of $17.55 in September.
Accel Partners’ James Breyer Will Leave Facebook Board
Trending Now on Deadline
NBC Cameraman Declared Ebola-Free; Tries To Rescue Nancy Snyderman From Self-Inflicted Career Disaster -- UPDATE
More From Lieberman
- Streaming Cash: Redbox Reports Losses From Its Joint Venture With Verizon
- Cable Programmers, Citing Privacy Concerns, Hold Up FCC's Review Of Comcast And DirecTV Deals
- Layer3 TV Taps Lindsay Gardner To Lead Programming And Content Acquisition
- Yahoo Shares Rise As Mobile Revenues Help It Beat Q3 Earnings Expectations
- Will Time Warner Feel A Bruise From Its Battle With Dish Network?
- Apple Beats Earnings Expectations With Help From iPhones, But Not iPads