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Thursday, October 18, 2018

Several major Facebook investors want co-founder Mark Zuckerberg out as chairman.

Several major Facebook investors want co-founder Mark Zuckerberg out as chairman.Trillium Asset Management, which tabled the proposal in June, is joined by New York City Pension Funds and other state treasures in demanding “independence and accountability in the boardroom.” However, it’s highly unlikely that the investors, aggrieved over the social network’s mishandling of high-profile scandals, will have their way – Zuckerberg holds about 60% voting power. The proposal is set be voted on at Facebook's next shareholder meeting in May 2019