Facebook’s shareholders tell Mark Zuckerberg to resign as board chairman
Facebook founder and Chairman Mark Zuckerberg is been pressured by a group of shareholders to resign as the Chairman of the largest social media site. A group of shareholders called SumofUS advocates that an independent Chairperson be appointment to oversee the executive decisions of the company.
SumofUs is an organization that campaigns on corporate accountability on global issues such as human rights, worker’s rights, corruption and corporate power grab. The Proposal reads that an independent chairperson would provide a balance of power between the CEO and shareholders.
The Shareholders noticed a clear imbalance of power in 2016 during the company’s shareholder meeting in June where a new Class C stock was introduced which is aimed at funding Mark Zuckerberg’s philanthropy projects. What SumOfUs is most likely stressing over is the possibility of Zuckerberg leading Facebook in a single minded direction, which may be putting the whole company behind and devaluing the board of shareholders.
So will the future of Facebook be directed completely by single mind ?