Sheryl Sandberg, Facebook Inc.'s number two top executive, is the social network's newest board member and the first female to grace the previously all-male board.

Facebook named 42-year-old Sandberg the eighth member of the board on Monday.

Her new appointment comes after Facebook received endless criticism for its lack of diversity on the board. New efforts are being made in large businesses to increase the female presence on American corporate boards.

According to Catalyst, a New York group that focuses on women's issues in the workplace, women only made up 16 percent of directorship at Fortune 500 companies in 2011.

In a statement made by Facebook CEO Mark Zuckerberg, he spoke of Sandberg's importance to the company saying she had much to do with the company's "growth and success."

Sandberg joined Facebook following her career as chief operation officer for Google Inc. and became heavily involved in building Facebook's online ad presence. She has also been very involved in the company's recent initial public offering.

Sandberg is at the top of many large tech and media corporations' lists to take the spot as CEO. She is on the New York Times Co. wish list for the chief executive officer position.

"She has to be in the top 1% of desirable board members out there," said Martha Josephson, a friend of Ms. Sandberg's and a partner at the recruiting firm Egon Zehnder International, to the Wall Street Journal.

Sandberg is excited to take on her new role as board member, saying in a statement, "I feel fortunate to be part of a company that is having such a profound impact in the world."