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Major Facebook Investors Want Mark Zuckerberg Out as Chairman (cnbc.com)
Major Facebook investors, including public pension funds and state officials, are pushing for Mark Zuckerberg's ouster as chairman of the company's board. From a report: The proposal is largely symbolic, since Zuckerberg holds absolute control of the board. But it comes at a difficult time for Facebook, as security breaches plague the company and spur questions around corporate oversight. "We need Facebook's insular boardroom to make a serious commitment to addressing real risks -- reputational, regulatory, and the risk to our democracy -- that impact the company, its share owners, and ultimately the hard-earned pensions of thousands of New York City workers," New York City Comptroller Scott Stringer said in a statement to CNBC. Stringer joined a previous motion by Trillium Asset Management in calling for Zuckerberg to step down.
As for their reasoning, they stated, "The Dark Lord would be less evil and have much more charisma than Zuckerberg."
... as security breaches plague the company and spur questions around corporate oversight.
Because Mark is doing a bad job actually coding the security fixes? Maybe they can get another CEO to do the cyber security work. :-)
"We need Facebook's insular boardroom to make a serious commitment to addressing real risks -- reputational, regulatory, and the risk to our democracy -- that impact the company, its share owners, ...
Um... Zuckerberg is the majority (or largest) shareholder. From The Top Shareholders of Facebook:
The founder and "face" of Facebook indirectly holds around 14.18 million Class A Facebook shares in a series of funds, as of July 25, 2018. Zuckerberg also owns a whopping 441.6 million Class B shares. Control over nearly 89% of the Class B shares, gives Zuckerberg 60% voting rights in the company.
It must have been something you assimilated. . . .
Why not 10 years ago?? And why can't we have the entire rotten pervert grid completely disbanded by order of pain of death?
Death to Farce Book
He made the damn company, he can run it how he wants.
Given that Zuckerberg completely controls facebook due to the dual-class share structure, unless you find him in bed with a live boy or a dead girl Zuckerberg will remain in complete control.
Only ousted as chairman, not as CEO. So even more symbolic than the article says.
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Russia offers an alternative. "you can call him Zuck-ski" and this will immediately quash all criticism about foreign meddling in diplomatic affairs. We also have what you call thinking outside the box. In Soviet Russia, Facebook outthinks you!"
...The proposal is largely symbolic, since Zuckerberg holds absolute control of the board.... If you want to fix a problem, then you need to put into place different thinking than that which caused the problem in the first place.
Are the "major investors" Chinese or Israeli?
and ultimately the hard-earned pensions of thousands of New York City workers," New York City Comptroller Scott Stringer said
Um, you could, I dunno, maybe *sell* all your FB stock and protect the pensions that way?
We all remember Zuck's opinion on workers over 30.
I was wondering how long it was going to take to catch up with Mark.
I think he may have a different opinion about the matter now.
Oh Well.
The screams of terror as Facebook sinks to the bottom is a most delightful melody.
If it's "majority" then problem solved. If it's just "major" then wake me up when you have "majority."
Anyone else annoyed by partisan "pension boards" trying to throw their weight around by saying they'll do this or do that unless a company toes a PC line? As someone who would want to know my pension was there when I retired, I'd just want the Comptroller to STFU and make sure I got maximum return on my retirement dollars for minimal expenses.
I don't really think he cares if he gets ousted or not.
Buy up a majority share, or you can suck it.
I don't like facebook or the zuck, but he is the majority owner so he gets the say.
I usually consider a corporation to have "lost it's soul" once it pushes out the initial founders and becomes the typical corporation run by committee who are focused on quarterly profits and stock-price. I thought google was going to last a little longer as Sergey and Page were still around, but they conveniently re-structured into "alphabet" to let us all know the exact date that they decided to just go whole-hog evil. (Anyone with a knee-jerk argument about that needs to remember they're trying to get back into china and are ok with censorship now). But for Facebook? You know what? This could really be a step in the right direction. It's losing it's soul, but it wasn't a particularly good soul to start with. Give the suit-committee like 2 years to figure out what they're doing, then another 3-5 to give it a try and we'll see how it goes. They'll have to address the fact that their flagship is no longer "cool" and lost it's "small circle/exclusivity" aspect. They'll probably just continue to diversify like they did with whatsapp. Then again, maybe they'll just double-down and have a tie-in with China's social credit-score. Give the Pooh-bear all your likes or suffer the consequences. (And NEVER poke the bear).
BIGLY watch its agile response to the will of the shareholders.. the perfect model for a country to run on too right Republicrats?
Someone sould shoot Zuck like Archduke Ferd. Start WW4 already.
That's ridiculous and the real story here. This guy should be fired and then beaten.
...that impact the company, its share owners, and ultimately the hard-earned pensions of thousands of New York City workers," New York City Comptroller Scott Stringer...
How the hell is Facebook responsible for the pensions of New York City government workers?
He has shown signs that he has a conscience, and the share holders don't like that at all, because it can only hurt the bottom line.
The question has to be asked of these agitators: You knew what the situation was before you bought into the company, so why are you only now complaining?
Surely it's not that your greed got the better of you, causing you to set aside your principles and obligations to your fund members in making prudent investment decisions?
Cry me a river.
FB clear from beginning could only Like or neutral. Now can express sad, anger or laugh. Maybe FB will expand further with ... GTFO , FTFY etc ztzu
the idea guys... Jobs (done... dead), Allen (done... recently dead), Musk (half-done, just need to get him all the way out of the company), and now Zuckerberg. Can't have these deep thinkers around making everyone else look stupid. If you're good and have a good idea, for God's sake keep your organization as a proprietorship, or at worst a partnership. Screw this system where a bunch of Johnny Come Latelies can end up firing the main guy.