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Simon Mugo

Why do some Facebook shareholders want Mark Zuckerberg to step down?

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A group of Facebook (NASDAQ: FB) shareholders have asked Mark Zuckerberg to step down from one of his roles given that he is both CEO and Chairman of the social media giant. The shareholders, led by Trillium Asset Management, feel that Zuckerberg should not have both roles and that he should step down as chairman and focus solely on running the company.

The group has pushed for a shareholder vote on this issue at the company’s annual general meeting today, but Zuckerberg is likely to win. This is because he owns 60% of Facebook’s outstanding shares, which means that the only way he would lose is if he voted against himself.

However, both analysts and investors will be monitoring the results to determine the percentage of shareholders who support the motion, as this would reveal their confidence in his leadership, particularly following the Cambridge Analytica scandal and other privacy concerns that have recently plagued Facebook.

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Facebook is not fancy and cool how it was to be years ago. I don't feel any more interested to this app. We are millions and millions right now. Mark Zuckerberg has negative reputation after so many fails including 50 millions users personal data leaked. Teenagers and adults prefer TikTok, it's different. There you can create something out of nothing.  As a user I spend a lot of time online, and best I've seen is Instagram. I have a lot of followers and on my page are subscribed many famous people. A deal was 2 years ago when for 6 months I paid $20,000 for marketing purposes for my page. These guys are best to  buy instagram likes for personal investments. I would never do such step towards Facebook, it's not worth it.

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Posted (edited)

I guess the answer is related to the fact that Zuckerberg was both CEO and Chairman. And as the lady above said, they wanted him to get concentrated on running the company and trying to develop it further. And also let's not forget about all those scandals around the company and Zuckerberg's person. That is not nice at all. Again, as said above, 50 million users got their personal data revealed, also a lot of people just do not use that social network any more. So, they were thinking that they might change something like that, so also making him the scapegoat, in a way. Well that is my opinion. My friend who is a defamation lawyer working for https://www.minclaw.com/report-slander-libel-to-facebook/, thinks that the only purpose the shareholders were having, is to make Zuckerberg a scapegoat.

Edited by Donna Cornish

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