Failed Attempt to Remove Mark Zuckerberg as Facebook Chairman

Failed Attempt to Step down Mark Zuckerberg as Facebook Chairman

On Thursday during the annual general meeting of Facebook, shareholders and the chance to vote on the leadership of Mark Zuckerberg. At present, Zuckerberg is holding two designations, such as the chairman of its board of directors and chief executive of Facebook. He has the control of about 60% of the voting power, and the only chance of losing the battle, if he cast his vote against himself.

Whereas, some of the investors called Zuckerberg to step down as company chairman, and it will help him to run the company with more dedication. Trillium Asset Management is one among those investors, and he owns shares of Facebook having worth of about $7m (£5.5m). Jonas Kron is the senior vice-president of Trillium, and he said that if he is able to focus on being the Chief Executive and permit anyone else to focus on having the chair of the indecent board that would make an ideal situation.

In addition, he said that Mark Zuckerberg has to take the inspiration from Microsoft’s Bill Gates and Google’s Larry Page, who are founders of their companies but they are not holding the position of chairman of the board. Regardless of privacy and data protection scandals for over one year, Facebook overdid revenue growth estimates and continued to add more new members.

Mark Zuckerberg denied showing response to a shareholder question at the annual general meeting regarding why he would not assign an independent chairman of the board. He repetitively said that regulators should set the rules about the privacy and Facebook content to follow.

Mark Zuckerberg Have Too Much Power in Hand

The former security chief of Facebook, Alex Stamos also said that Zuckerberg has to step down as chief executive of the company. In May, Stamos expressed towards Collision Conference in Canada that there is a legit dispute that Mark Zuckerberg has too much power in hand.

Previously, Zuckerberg defended his Facebook leadership. He stated that when anyone is developing something such as Facebook, which is exceptional in the world, there are a lot of things that he is going to mess up. He told in April that he believes that people should hold us answerable for is if we are learning lessons from our mistakes.


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