Two Pinterest Directors Resign from Nextdoor’s Board
The Justice Department has announced that two directors from Pinterest have resigned from Nextdoor’s board in response to new efforts to enforce an antitrust law. This law aims to prevent executives from holding similar positions at competing companies simultaneously.
The department specifically cited Section 8 of the federal Clayton Act, which generally prohibits company directors and officers from serving on the boards of rival companies at the same time. As part of an enforcement initiative by the antitrust division, 15 interlocking directors from 11 boards have already resigned.
Deputy Assistant Attorney General Andrew Forman of the department’s antitrust division emphasized their commitment to protecting competition by preventing interlocking directorates that violate Section 8 of the Clayton Act. He stated, "We remain steadfast in our commitment to protect competition by preventing interlocking directorates that we believe violate Section 8 of the Clayton Act."
The resignations of the directors from Nextdoor’s board became effective on August 1st, but according to the department, neither the directors nor the companies admitted any liability.
Nextdoor responded to inquiries on Wednesday by referring to a regulatory filing made in July. According to that filing, Leslie Kilgore and Andrea Wishom, the resigning directors, notified Nextdoor of their decision to step down on July 25th. Nextdoor clarified that their resignations were not a result of any disagreement with the company on matters relating to its operations, policies, or practices.
While Pinterest did not immediately provide comments when approached by the Associated Press, both Kilgore and Wishom are listed as directors on the company's website. Pinterest, a social media platform for image-sharing, is also headquartered in San Francisco.