Meta Platforms announced on Monday the appointment of Dina Powell McCormick as its president and vice chairman. The social media giant, owner of Facebook, Instagram, and WhatsApp, described the role as intended to help guide its strategy and execution.
The company said Powell McCormick would work to ensure its multi-billion-dollar investments execute against its goals, build partnerships, and expand its investment capacity. She was named to Meta's board last year.
Powell McCormick previously served at BDT & MSD Partners, a merchant bank. Meta noted she was President Donald Trump's deputy national security advisor and an assistant secretary of state under former President George W. Bush.
On social media, Trump called her a fantastic and very talented person. Meta's shares edged lower Monday afternoon but are up roughly 5% over the past 12 months.
According to Visible Alpha, Meta has a market capitalization of about $1.65 trillion. It is among the most valuable companies in the S&P 500 and part of the Magnificent Seven group of big tech stocks.
The company is among the big spenders and builders of AI technology. Late last week, Meta announced deals with three nuclear energy companies meant to help power its data center network.
Bank of America analysts wrote Monday that power availability is a key constraint for data center expansion, likely prompting Meta to secure long-term energy partnerships to lock in capacity and pricing certainty. They added that for those viewing AI capacity as a key strategic asset, these deals should help support Meta's AI capacity growth for the next decade.
Meta is also seeking to build its smart-glasses business, viewed as a possibly valuable access point to AI technology, and evolving its approach to teen safety online.