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Facebook Board Member Jim Breyer Stepping Down

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MENLO PARK (CBS/AP) — Facebook says that venture capitalist Jim Breyer won’t seek re-election to its board of directors.

Facebook Inc. said Friday that Breyer, partner at Silicon Valley VC firm Accel Partners, will stay on until the company’s annual meeting on June 11.

Menlo Park-based Facebook has eight other board members, including CEO Mark Zuckerberg, Chief Operating Officer Sheryl Sandberg and Marc Andreessen, co-founder of Netscape and the venture capital firm Andreessen Horowitz.

In an emailed statement, Breyer said that after over eight years of board service, he’s stepping aside light of other responsibilities, including his recent election to the Harvard University Corp. board.

According to documents filed with the Securities and Exchange Commission this week, Breyer also isn’t seeking re-election to the board of retailer Wal-Mart Stores Inc.

(Copyright 2013 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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