Capital One adds Facebook and Nike executives to its board of directors

Capital One Financial Corporation on Wednesday announced that it has added Facebook and Nike executives to its board of directors.

The two executives were named in following the announcement of the retirement of longtime board member Pierre Leroy, who has been on the board since 2005, “in accordance with the company’s retirement policy,” according to a press release.

Facebook’s head of new product experimentation Ime Archibong was named to the Capital One board. This move suggests that the financial firm is tilting towards increasing its technology focus.

“Ime’s product and partnership experience at a company that has billions of users and global reach has given him a broad understanding of the issues at the intersection of product, technology, data, and the customer experience,” said Richard D. Fairbank, Chairman and CEO of Capital One, in a statement. “He brings unique perspectives to Capital One’s Board that span the technology landscape as well as his deep commitment to building community and helping people understand each other.”

At Facebook, Archibong leads an internal team that builds and test new mobile products and applications. In his previous role at Facebook, he led a team that managed the company’s strategic partnerships.

President of Nike’s product line, Craig Williams has also been nominated to Capital One’s Board of directors. This also means that the financial firm is looking to expand its reach to more markets and customers.

“Craig’s great judgment has been honored by more than three decades of global experience in setting visions, building brands, and driving stellar results at some of the world’s most admired companies,” Fairbank said. He added that Williams is “a seasoned business executive who was hand-picked to lead Jordan Brand, one of the world’s most iconic brands.”

Capital One Financial Corporation is the third-largest credit card issuer in the U.S. and the parent company of popular consumer bank Capital One.

With the retirement of Leroy and the new appointment of Archibong and Williams, Capital One will have 13 directors on its board, of which 4 are women. The directors also self-identify as ethnically diverse to promote workplace equity.

The Black Lives Matter protests which reignited last year has caused many of the country’s largest corporations to seek increased ethnic diversity in their executive ranks and staff strength.

To promote ethnic diversity among top corporations, Nasdaq Inc. says it plans to require companies listed on its U.S. exchange to include at least one director of minority groups. Also, Goldman Sachs Group Inc. said it will no longer take a company public in the United States and Europe is if doesn’t have at least one director from minority groups.