Super Nerd may be ousted by Facebook shareholders. Zuckerberg currently hold 60 percent of Facebooks voting shares. Investment company Trillium Asset Management filed a proposal on Wednesday to oust Mark Zuckerberg as Chaiman of Facrbook. Most investors in general want him to relinquish either Chairman and CEO. They feel th hat having him ad both weakens the board’s oversight of management. Investors have been on a rampage lately about the lack of oversight that caused the mishandling of Cambridge Analytica and election meddling. The snowball effect came just hours after on Wednesday’s close, when Facebook’s stock went into a free fall. Shareholders were both aggravated and shocked when Facebook lost an estimated 150 billion in market value.
Many people who know Zuckerberg are not to upset at what is happening to both him and his company. Zuckerberg is not really trusted in the Silicon Valley. He is still considered a RIP off artist to what he did to the Wilkevoss twins at Harvard and what happened to an ex partner when they were still getting Facebook off the ground.
By his own admission before Congress, Facebook sells a person’s information from it s sight to anyone who will pay for it. A total dis regard for it s clients privacy, Facebook has since faced an onslaught of other allegations. Like Google, Facebook maybe looking at billions in fines and more shareholder abandonment. This could be only be the beginning of the end for Facebook.
Board of Directors