The Watch Secret Sessions Onlinecall to oust Mark Zuckerberg is coming from inside the house.
A group of investors have teamed up in an effort to replace the Facebook CEO and board chairman with an independent voice. The plan, put forth in an April 12 SEC filing, doesn't mince words in its critique of the 34-year-old fan of smoked meats.
"[Zuckerberg's] dual-class shareholdings give him approximately 60% of Facebook's voting shares, leaving the board, even with a lead independent director, with only a limited ability to check Mr. Zuckerberg's power," reads the statement supporting the proposal. "We believe this weakens Facebook's governance and oversight of management."
SEE ALSO: Why Facebook waited 3 months to disclose its latest privacy screw-upIn other words, even Facebook investors think an unchecked Zuckerberg is bad for business. And in case that wasn't clear enough, they lay out a few examples demonstrating, in their view, how miserably he's screwed things up.
"We believe this lack of independent board Chair and oversight has contributed to Facebook missing, or mishandling, a number of severe controversies, increasing risk exposure and costs to shareholders," the proposal reads.
It goes on to provide the following examples: "Russian meddling in U.S. elections," "Sharing personal data of 87 million users with Cambridge Analytica," "Data sharing with device manufacturers, including Huawei that is flagged by U.S. Intelligence as a national security threat," "Proliferating fake news," "Propagating violence in Myanmar, India, and South Sudan," "Depression and other mental health issues, including stress and addiction," and "Allowing advertisers to exclude black, Hispanic, and other 'ethnic affinities' from seeing ads."
The plan, if adopted, would make "the Chair of the Board of Directors, whenever possible, be an independent member of the Board."
Unsurprisingly, Facebook isn't a fan. The company dismissed the need for an independent board chairperson, before reminding the investors in question that they don't really have the votes to pull off this maneuver.
"In addition," writes Facebook, "our stockholders rejected a similar proposal at our annual meeting of stockholders in 2017."
Even though this specific attempt to pull Zuckerberg's board chairmanship out from under him is destined to fail, the fact that it's a recurring effort sends a warning of looming accountability to the CEO. If not today, then tomorrow. Time will tell if he listens.
Topics Facebook Social Media
Today's Hurdle hints and answers for April 23, 2025
Better Buy: Previous
Get the official Atari 7800+ Console for 50% off
Best tablet deal: Save $45 on Amazon Fire HD 10 tablet
WhatsApp launches 'Advanced Chat Privacy' to protect sensitive conversations
The Made in America iPhone: How much would it cost?
WhatsApp launches 'Advanced Chat Privacy' to protect sensitive conversations
Trump's new tariff plan spares some smartphones, laptops
NYT Connections hints and answers for May 1: Tips to solve 'Connections' #690.
Alienware M16 Gaming Laptop deal: Save $560
Today's Hurdle hints and answers for April 23, 2025
NYT Strands hints, answers for April 26
NYT Strands hints, answers for April 23
Japan orders Google to stop alleged antitrust violations
Stablecoin bill advances in U.S. Senate as Trump critics call to end his crypto dealings
Shop the Google Pixel Pro 9 for $200 off at Amazon
Today's Hurdle hints and answers for April 23, 2025
NYT Connections Sports Edition hints and answers for April 26: Tips to solve Connections #215
Best portable power station deal: Save $179.01 on the EcoFlow River 2 Max
Character AI reveals AvatarFX, a new AI video generator
AMD Radeon RX 550 + Intel Pentium G4560Amazon Prime Grubhub deal: Save $10 off orders of $20 or moreNYT Connections hints and answers for May 10: Tips to solve 'Connections' #699.Amazon Prime Grubhub deal: Save $10 off orders of $20 or moreThe Mismeasure of MediaHow to Easily Make iPhone Ringtones Using Only iTunesNew MIT report reveals energy costs of AI tools like ChatGPTBargaining For the Common GoodBest iPad deal: Save $132 on Apple iPad (10th Gen)10 Tech Predictions for 2017Best Max streaming deal: Save 20% on annual subscriptionsQ&A with tendercare founder and CEO Shauna SweeneyGods of WarHow to Settle Down with DystopiaPhilips now allows customers to 3D print replacement partsToday's Hurdle hints and answers for May 9, 2025Episode 4: The Wave of the FutureThe Mismeasure of MediaSamsung Unpacked stream is set for May 12, 2025Best robot vacuum deal: Get the Roborock Q5 Max for 53% off at Amazon Facebook starts rolling out 'Unsend' feature in Messenger Snapchat is bringing its real A dad let his daughter bite a deer heart and some people are mad Extremely forgiving cough drop company chooses Ryan Lochte What theme will 'American Horror Story' Season 9 have? A marriage equality vote will hurt young people, says comedian Cat is determined to relax despite too Netflix's 'CAM' is the horror genre's latest feminist nightmare London is hiring a 'night czar' and people are confused Samsung's next flagship might have a new AI chip, 8K video recording Uber's rider loyalty program crushes Lyft's The internet's best tips for how to be kind on World Kindness Day How Glossier became a beauty brand born entirely on the web 'Game of Thrones' director: Season 8 twists will rival the Red Wedding 'Toxic' is a sadly perfect word of the year for 2018 Beyoncé remembers Aaliyah in throwback Instagram post Evil genius dubs Alex Jones' voice into 'Detective Pikachu' trailer Taxi drivers hope to beat Uber with their own apps Oh cool, you can see how much time you waste on Instagram now These women are challenging sexist dictionary sentence examples on Google
2.0203s , 10108.5859375 kb
Copyright © 2025 Powered by 【Watch Secret Sessions Online】,Creation Information Network