Facebook Names Second Female Board Member

By John Letzing

Facebook Inc. ( FB ) said Wednesday that University of California, San Francisco Chancellor Susan Desmond-Hellmann has been elected to be a company director, adding a second woman to the social-networking company's board.

In addition to Facebook, Ms. Desmond-Hellmann also sits on the board at Procter & Gamble Co. ( PG ), one of the largest U.S. advertisers.

"Sue has a great track record of building and managing a diverse set of organizations, so her insights will be valuable as we continue to expand," Facebook Chief Executive Mark Zuckerberg said in a statement.

Ms. Desmond-Hellmann becomes the ninth member of Facebook's board, joining a group that includes Mr. Zuckerberg, Netflix Inc. ( NFLX ) CEO Reed Hastings and Washington Post Co. ( WPO ) CEO Donald Graham.

In June of last year, Facebook Chief Operating Officer Sheryl Sandberg became the eighth member of its board.

In January, Facebook reported that its advertising revenue rose 41% in the fourth quarter compared to the period a year earlier, an uptick compared to the growth rate in the prior quarter.

Facebook shares closed Wednesday down slightly at $27.45. The shares have yet to regain the $38 level set as part of its initial public offering in May of last year.

Write to John Letzing at john.letzing@dowjones.com

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