Marjorie Scardino Become’s Twitter’s First Female Board MemberBy: Chris Crum - December 5, 2013
Twitter announced this morning that it has added Marjorie M. Scardino to its Board of Directors.
Scardino is the former CEO of Pearson, and is Twitter’s first female board member. Earlier this year, there was a lot of chatter in the blogosphere about how Twitter didn’t have any women on its board.
We're pleased to welcome @marjscar to our board of directors.
— Twitter (@twitter) December 5, 2013
She describes herself in her Twitter bio as:
Education, techology & journalism dilletante; mother of 3; wife of Albert Scardino for many yrs; recovering CEO; recovering Texan; still just a Twitter follower
So far, she has only tweeted once, and that was in response to Twitter’s announcement:
@twitter Thank you. There couldn't be a more exciting time in Twitter's history to join!
— Marjorie M Scardino (@marjscar) December 5, 2013
Scardino was also appointed as a member of the audit committee of the Baord where she will replace David Rosenblatt (who will continue to serve on the compensation committee and the nominating and corporate governance committee).
Twitter says in an SEC filing:
Ms. Scardino, age 66, served as Chief Executive Officer and as a member of the board of directors of Pearson plc, a publishing and education company, from 1997 to 2012. From 1985 to 1997, Ms. Scardino served in several roles at The Economist Group, a media company, including as Chief Executive Officer. Ms. Scardino served on the board of directors of Nokia Corporation, a telecommunications company, from 2001 to April 2013. Ms. Scardino holds a B.A. in Psychology from Baylor University and a J.D. from the University of San Francisco School of Law.
In connection with her election to the Board, Ms. Scardino was granted a restricted stock unit award on December 4, 2013 covering 4,018 shares of the Company’s common stock. The restricted stock unit award will vest quarterly over one year, subject to continued service on the Board on each applicable vesting date. Notwithstanding this vesting schedule, the vesting of the restricted stock unit award granted to Ms. Scardino will vest in full upon a “change in control” (as defined in the Company’s 2013 Equity Incentive Plan). The restricted stock unit award is subject to the terms and conditions of the Company’s 2013 Equity Incentive Plan and the related restricted stock unit award agreement.
Ms. Scardino also executed the Company’s standard form of indemnification agreement, a copy of which has been filed as Exhibit 10.1 to the Company’s Registration Statement on Form S-1 (File No. 333-191552) filed with the Securities and Exchange Commission on October 3, 2013.
According to the document, Scardino will serve in the class of directors whose term expires at the annual meeting of stockholders next year.
Image: Marjorie M. Scardino (Twitter)