Moscow, June 6 — “Conduct. Economy” At the annual meeting of shareholders of Facebook, which was held on may 30, the majority of investors supported the idea of the offset Mark Zuckerberg from his post as Chairman of the Board and the hiring of independent Directors. About it reports Bloomberg with reference to the document filed with the Commission on securities and stock exchanges of the USA.
Dissatisfaction with Zuckerberg reached its peak, but to get rid of him impossible, as he controls more than half of all votes and has the final say in making any decisions.
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.
For Zuckerberg’s resignation from the post of Chairman voted 68% of investors. Furthermore, 83,2% voted for the abolition of the issue of shares of two classes as preferred stock in the hands of Mark Zuckerberg and his closest managers give them too much power.
“Bloated the role of Mark Zuckerberg in Facebook needs to be reduced. The company is fully dependent on one person who is not accountable to no one, managing the daily work and supervising the ever-expanding activities of the company that demonstrates a lack of understanding of the fundamentals of the business, and also keeps the company in a state of stagnation. Closed Board of Directors Facebook must be open, because the company has no responsibility to their customers nor their investors, nor our democracy,” — said in comments to Business Insider investor Scott stringer, who own shares of the social network for $785 million
The outcome of the vote forced Stringer to publicly demand an independent investigation. He also wrote a letter to Susan Desmond-Hellmann, who is the Deputy Zuckeberg in the Board of Directors, in which he expressed his dissatisfaction. In the letter stringer requires that Desmond, Hellmann took “decisive action” and launched an investigation to determine how “control mechanisms Facebook has affected the corporate culture of the company, lack of response to serious problems and inability to take responsibility before stakeholders”.
In General, investors knew that their attempts to limit the power of Zuckerberg over the company will not succeed. Those voices possessed by the head of the company, guarantee his safety from such changes. Zuckerberg himself to resign of the Board of Directors does not plan to. The head of Facebook has repeatedly said that better than he, to run the company, no one can.
Meanwhile, such a massive support for these proposals shows just how unhappy investors what is happening with Facebook, and the person who runs the company.
Shareholders have already tried to dislodge Zuckerberg from his post as head of the Board of Directors in the summer of 2018, but the attempt is also not successful. Among the main charges then also sounded the inability of shareholders to challenge the decisions of the Creator of Facebook.
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