68% of Facebook shareholders voted to remove the founder of the social network of Mark Zuckerberg from the post of Chairman of the Board of Directors at last week’s annual meeting, reports Business Insider. Last year, a similar initiative gained 51% of the vote.
What happened. Still 83.2% of shareholders supported the proposal to eliminate joint structure of the two classes, where about 60% of the votes in the company monitors its founder. Because the same structure is an attempt to limit his options in Facebook again failed.
The proposal of the group of shareholders on the shift of Zuckerberg as Chairman of the Board of Facebook was published April 14 on the website of the securities Commission in the United States among other issues for the annual General meeting on may 30. In document shareholders accused the head of Facebook in undue influence on policy because of the unequal distribution of the voting rights of the shares, the fall in the value of the company 40% after Facebook-related scandals and ineffective solution to the crises in the company.
The shareholders proposed to change the structure of the company and to appoint an independent Chairman of the Board of Directors, which would make the CEO Zuckerberg more accountable to shareholders, indicating that this practice is already successful examples — Google, Microsoft, Apple, Oracle, and Twitter. Instead, the shareholders by a majority vote approved the compensation requested for top-managers Facebook, and has allocated $20 million to ensure the safety of Zuckerberg, writes СNBC.
In the summer of 2018 shareholders have already tried to dislodge Zuckerberg from his post as head of the Board of Directors, but it did not succeed. Among the main charges then also sounded the inability of shareholders to challenge the decisions of the Creator of Facebook.
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