The largest social networking service Facebook has announced that James Breyer of Accel Partners would not stand for re-election with the board. Accel Partners was one of the first investors in the company during its fledgeling days.
The departure of Breyer, according to regulatory filings, would be the first one since the IPO of Facebook was concluded in May 2012. He represented the venture capital firm based out of Palo Alto, CA who had a US$12.7 million investment back in 2005.
Since the IPO, Facebook's board has been expanded to include Susan Desmond-Helleman, the chancellor of the University of California at San Francisco back in March of this year and Sheryl Sandberg, Facebook's COO last June of 2012.
Breyer said he was stepping down 'to focus on other responsibilities.' He was also the venture partner firm's representative in its investments in Wal-Mart Stores Inc, where he was also stepping down as a member of their board.
In an emailed statement from Accel Partners, Breyer conveyed his thoughts by saying, "After over eight years of board service, it's time to step aside in light of my other responsibilities, including my recent election to the Harvard University Corporation Board."
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