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


Simon Mugo

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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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