Facebook Shareholders Propose Ousting Chairman Mark Zuckerberg – IOTW Report

Facebook Shareholders Propose Ousting Chairman Mark Zuckerberg

Breitbart Tech: Facebook’s shareholders have reportedly drawn up a proposal to remove Mark Zuckerberg as the company’s chairman.

Trillium Asset Management, a group that controls approximately $11 million worth of Facebook stock, has drawn up a new proposal to remove Mark Zuckerberg as chairman of the social media company that he founded. The proposal was filed hours before Facebook’s recent brutal earnings report on Wednesday which saw Facebook’s stock price drop by as much as 24 percent. This devalued Facebook by approximately $148 billion.

If approved by other investors and Facebook management, the proposal would see Zuckerberg removed as chairman of the company with an independent party taking over the position, but Zuckerberg would still remain CEO of the company. The proposal states:

A CEO who also serves as chair can exert excessive influence on the board and its agenda, weakening the board’s oversight of management.

Separating the chair and CEO positions reduces this conflict, and an independent chair provides the clearest separation of power between the CEO and the rest of the board.

One of the reasons cited for the proposal was Facebook’s “mishandling” of scandals, with the proposal citing the  2016 presidential election, Cambridge Analytica, and the situation in Myanmar in which Facebook has been accused of allowing the promotion of “hate speech” within the country. more

See also:

Facebook CEO Mark Zuckerberg Loses $17 Billion as Shares Plummet.

11 Comments on Facebook Shareholders Propose Ousting Chairman Mark Zuckerberg

  1. This is just lip service to stop the immediate bleeding of fleeing investors. And the independent party that will take over is going to somehow have a different mindset?! Please. This is pure liberalism – they can’t win in the arena of ideas so they censure and eliminate opposition.

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  2. It’s hilarious to me that the drop is on an increase in users and profit – just not as much as was expected.

    Was at an investment committee meeting last night with our Merrill Lynch advisor, his comment was that the premium stocks like these are incredibly overvalued because of their popularity which makes them subject to swings like this. The business is solid, just not the ephemeral stock price.

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  3. Im hoping that crazy lunatic mozlem broad that shot up Youtube left an instructional video for some of her whacko followers and they hit Dickbook, Twatter, Google, and even Shmucktube a second time would be nice.

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