Facebook COO Sheryl Sandberg has confirmed that the company will retain billionaire investor Peter Thiel on its board. Thiel is currently embroiled in a controversy for allegedly bankrolling Hulk Hogan's case against Gawker.

Speaking at Recode's Code Conference, the Facebook COO stated that Thiel's legal war against Gawker is his personal decision and is not likely to have any impact on his role in Facebook. Sandberg emphasized that the company was not aware of Thiel's actions and that "he didn't use any Facebook resources" for this purpose. However, she added, "...If he had, that would be an issue."

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Responding to a query about whether Facebook would sever ties with Thiel if he is found to have funded lawsuits against other media companies, Facebook CEO stated, "It's really hard to answer all of these hypotheticals. But what really matters is that we're an open platform."

Peter Thiel's involvement in Hulk Hogan's case against Gawker came into the limelight last week. His move has been criticized by the press and industry leaders including Jeff Bezos as a threat to press freedom. In an interview with The New York Times, Thiel stated, "It's less about revenge and more about specific deterrence." Thiel reportedly paid $10 million to support Hogan's case. Hulk Hogan won $115 million in damages from Gawker.

Thiel was an early investor in Facebook and holds a position in Facebook Board of Directors. He is also a co-founder of PayPal and runs Thiel Fellowship. Gawker, on the other hand, is one the initial partners of Facebook Live video streaming.

TagsSheryl Sandberg, Peter Thiel, Facebook, hulk hogan, Gawker