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.

Comments

Someone else would be better?

[fahrbot-bot]

... 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.