Some shareholders want to oust Facebook CEO Mark Zuckerberg

technology | 2/8/2017 | 4:47:00 AM
naina n
Team Asianet Newsable
Highlights
  • Facebook recently celebrated its 13th birthday.
  • Its journey is an inspiring story from dorm to board room, although marred with controversies. 
  • Facebook CEO Mark Zuckerberg has also been Facebook’s board Chair since 2012.

A VentureBeat report points out at the proposal that suggests Mark Zuckerberg should be replaced for an independent chairperson. The change is aimed at a person who could carry the company forward and bring pro-shareholder agenda. While Facebook has been tight lipped about it, a statement is likely to come out in April, as per reports.

 

"Facebook CEO Mark Zuckerberg has also been Facebook’s board Chair since 2012. We believe the combination of these two roles in a single person weakens a corporation’s governance, which can harm shareholder value," the proposal reads.

 

"We believe that independent board leadership would be particularly constructive at Facebook as our company faces increasing criticism regarding its perceived role in the promotion of misleading news; censorship, hate speech and alleged inconsistencies in the application of Facebook’s community standards guidelines and content policies; targeting of ad views based on race; collaboration with law enforcement and other government agencies; and calls for public accountability regarding the human rights impacts of Facebook’s practices," the report further adds.

 

However, it should be noted that Zuckerberg holds a majority at the company. Moreover, the company's growth has been phenomenal, almost akin to Google. 

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    From a stupid voter trying to be smart to Facebook playing mind games

    video | 3/30/2018 | 11:21:12 AM