Shareholders of Facebook, which owns the world’s largest social network of the same name, demanded to fire Mark Zuckerberg from the position of head of the board of directors. They are convinced that one person cannot be the head of the company and the chairman of the board of directors at the same time – this negatively affects the development of the corporation.
Facebook shareholders put forward two demands. First, they want to reduce the influence of Mark Zuckerberg on the company’s strategic decisions: despite the fact that the founder of the social network owns only 13% of Facebook shares, the board of directors has a 51% share of all votes – Zuckerberg can make decisions on strategies company development. Secondly, shareholders want to appoint an independent chairman of the board of directors who will monitor the activities of the company “from outside”. At the moment, the post of head of the board is also occupied by Mark Zuckerberg.

Those who wish to make changes in the management of Facebook are confident that all the company’s recent problems are connected with the absence of an independent chairman of the board of directors. As an additional argument, they cite the fact that in the largest technology corporations represented by Apple, Google and Microsoft, the position of the head of the company and the chairman of the board is occupied by different people.

Shareholders of Facebook are going to discuss this issue in more detail at the meeting to be held on May 30.

Izaan Zubair
Izaan's inquisitive in technology drove him to launch his website Tech Lapse. He usually writes pieces on emerging technology, anime, programming and alike niches. He can be reached at [email protected]
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