Business
17:04, 20-Aug-2017
Ex-PayPal HR chief balances books at Zuckerberg’s philanthropic initiative
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Mark Zuckerberg and his wife Priscilla Chan have hired Peggy Abkemeier Alford, PayPal's ex-HR chief, as the first chief financial officer for their Chan Zuckerberg Initiative.
Zuckerberg announced the news on his Facebook page Friday.
Alford will be responsible for managing the books of the fund that Zuckerberg is backing by selling up 1 billion US dollars of his Facebook shares per year.
Zuckerberg’s philanthropic enterprise is currently working on education reform, affordable housing and a science program which aims to cure the world’s diseases.
“One of the biggest challenges of running a large philanthropic initiative is measuring results and deciding how to invest capital across different disciplines,” Zuckerberg wrote on his Facebook page.
Launched in 2015, the Chan Zuckerberg Initiative is a philanthropic fund aimed at giving away the vast majority of their fortune.
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