Facebook Inc announced on Thursday that it has named Netflix Inc (NASDAQ:NFLX) CEO Reed Hastings to its board of directors, expanding the group that is expected to guide the company through its IPO to six.Mark Zuckerberg, founder and CEO of Facebook said, "Reed is an entrepreneur and technologist who has led Netflix to transform the way people watch movies and TV. He has built a culture of continuous rapid innovation, something we share and work hard to build every day."Reed Hastings reacted to his new position saying, "Facebook is propelling a fundamental change in how people connect with each other and share all kinds of content. I’m looking forward to working with Mark and the rest of the board to help Facebook take advantage of all the opportunities ahead."Mr. Hastings founded Netflix in 1997, and took the company public in 2002. Since 2007, he has been a member of Microsoft's (NASDAQ:MSFT) board of directors, where he is currently the lead independent director.Shares of NetFlix are trading up 2.85% at $255.75.