Meta’s shares (META) failed to get off the ground at the start of trading on Monday despite President Donald Trump praising the appointment of his former advisor, Dina Powell McCormick, as president and vice chair of the social media company.
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The appointment comes after McCormick, who served as a deputy national security advisor to Trump during his first term, recently stepped down from the board of the company. Her resignation became public in mid-December through a filing with the U.S. securities regulator.
Announcing her appointment, Meta said McCormick’s work experience “at the highest levels of global finance” was “uniquely suited” as the company pursues its next phase of growth in artificial intelligence and personal superintelligence. The executive spent 16 years in various senior leadership roles at investment bank Goldman Sachs (GS) between 2007 and 2023.
“As we scale, the complexity of what we’re building is changing,” Meta noted in a statement, pointing to McCormick’s “deep relationships around the world.” Reacting to the appointment, Trump on Truth Social called McCormick’s appointment by Meta founder Mark Zuckerberg “a great choice.”
“She is a fantastic and very talented person, who served the Trump Administration with strength and distinction! President DJT,” Trump wrote on Truth Social.