Alford will become the first black woman to serve on Facebook's board, reports TechCrunch.
She has served as the Chief Financial Officer of the non-profit Chan Zuckerberg Initiative.
Peggy said she "looks forward to working with Mark and the other directors as the company builds new and inspiring ways to help people connect and build community".
Facebook's original video content ranges from Jada Pinkett Smith's popular talk show "Red Table Talk" to the drama series "Sorry For Your Loss" starring Elizabeth Olsen, reports CNN.
The company also hosts YouTube-like shows from content creators.
Facebook also announced that Erskine Bowles, a former Democratic political staffer, will leave the board.
Both Hastings and Bowles have served on the Facebook board since 2011.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)