Thiel steps down from Meta board after 2 decades

Venture capitalist and PayPal Co-founder Peter Thiel is stepping down from Meta’s (formerly Facebook) board of directors after two decades.

According to reports, Thiel is retiring to focus on November’s US mid-term elections. He, however, did not disclose his next move. “Thiel has served on our board for almost two decades, and we’ve always known that at some point he would devote his time to other interests. I’m grateful he’s served on our board for as long as he has, and I wish him the best in his journey ahead,” said Mark Zuckerberg, Meta Founder-CEO. Thiel, a partner at Founders Fund, has decided not to stand for re-election to the Board of Directors of the company at its 2022 Annual Meeting of Stockholders. Thiel will continue to serve as a director until the date of the annual meeting.