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HE’S GETTING ZUCCED: Facebook’s shareholders want to drop Mark Zuckerberg as company chairman

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FACEBOOK shareholders have reportedly drawn up a proposal to remove Mark Zuckerberg as the company’s chairman.

Breitbart Tech reports that Trillium Asset Management, a group that controls approximately $11 million worth of Facebook stock, has drawn up a new proposal to remove Mark Zuckerberg as chairman of the social media company that he founded.

The proposal was filed hours before Facebook’s recent brutal earnings report on Wednesday which saw Facebook’s stock price drop by as much as 24 percent. This devalued Facebook by approximately $148 billion.

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If approved by other investors and Facebook management, the proposal would see Zuckerberg removed as chairman of the company with an independent party taking over the position, but Zuckerberg would still remain CEO of the company.

The proposal states: “A CEO who also serves as the chair can exert excessive influence on the board and its agenda, weakening the board’s oversight of management.

Separating the chair and CEO positions reduces this conflict, and an independent chair provides the clearest separation of power between the CEO and the rest of the board.”

One of the reasons cited for the proposal was Facebook’s “mishandling” of scandals, with the proposal citing the 2016 presidential election, Cambridge Analytica, and the situation in Myanmar in which Facebook has been accused of allowing the promotion of “hate speech” within the country.

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