Facebook: CEO Mark Zuckerberg To Be Removed, Proposal By Public Share Holders
The Social media giant Facebook reportedly updates regarding the CEO Mark Zuckerberg. According to the reports he could be removed from Facebook. Some of the shareholders have proposed to remove the CEO Mark Zuckerberg from the Board of Directors of the company.
there are4 major US Public Funds that hold shares in Facebook Inc, who proposed the removal of CEO Mark Zuckerberg as Chairman. It follows several high profile scandals and hopes to get more as an asset. The four major US Public Funds including, State Treasures (Pennsylvania), Scott Stringer (New York City, comptroller), co-filed proposal.
CEO MARK ZUCKERBERG
“Facebook plays an outsized role in our society and our economy. They have a social and financial responsibility to be transparent. That is why we are demanding independence and accountability in the company’s bedroom”, stated stringer.
According to multimedia reports, a proposal has been filed to replace Zuckerberg who has been on the board, since 2012. Along with it, proposal demands to replace him with an independent Chairperson who can carry the company forward took for better governance.
Facebook boss may end up losing his job https://t.co/IyYGdifIcZ
— EconomicTimes (@EconomicTimes) October 18, 2018
Reportedly, it is been witnessed the Watchdog Group of Shareholders, called “Sum Of Us” has initiated the idea, Venture Beat reports states.
The April updates states of 60 percent voting rights of Zuckerberg, at the company. The same proposal was raised in the year 2017
Meanwhile, Mark Zuckerberg who is the current CEO of Facebook is hardly affected by this. As he owns a considerable amount of company shares and has a great and important role in the decisions of the company.
Get in touch with us for another update on Social media, technology, and entertainment.
PLEASE COMMENT AND SHARE YOUR VIEWS WITH US IN THE COMMENT SECTION BELOW…