A recent report claims that some shareholders have filed a proposal to remove Facebook CEO Mark Zuckerberg from his chairman position.
Facebook Chief Executive Officer Mark Zuckerberg could be removed from his position as chairman. The information comes from a recent Reuters report claiming that four major U. S. public funds that hold shares in Facebook Inc made this proposal. The reasons behind the move are allegedly high-profile scandals involving Zuckerberg.
The funds also reportedly expressed their hope to obtain backing from larger asset managers in their pursuit. Reuters says that the proposal was co-filed by State treasurers from Illinois, Rhode Island and Pennsylvania, and New York City Comptroller Scott Stringer. Last year, a similar proposal that was looking for an independent chairman was defeated.
While Facebook didn’t yet comment on the matter, Rhode Island State Treasurer Seth Magaziner said “this will allow us to force a conversation at the annual meeting, and from now until then in the court of public opinion”.
