OREANDA-NEWS. June 02, 2016. The Facebook board member has been under fire since it was revealed last month he was bankrolling former wrestler Hulk Hogan's lawsuit against Gawker Media. Through it all, Facebook, with its crucial role to thousands of publishers, has faced questions about his board seat.

Thiel will remain on the social network's board, COO Sheryl Sandberg said Wednesday at Recode's Code Conference held in Rancho Palos Verdes, California.

"Peter did what he did on his own, not as a Facebook board member," she said. When asked specifically about whether he'd keep his board seat, her answer was clear: "Yes."

The controversy began when it came out that Thiel had backed multiple lawsuits against Gawker, including Hogan's. Thiel reportedly paid roughly \\$10 million to back Hogan, who won more than \\$115 million in a Florida jury trial in March. Hogan claimed that Gawker violated his privacy in 2012 when it published a sex tape involving him and the now-estranged wife of a friend. Thiel later admitted his involvement.