m challenges, as well as a separate request to establish an ongoing risk oversight committee.
“IT IS LONG PAST TIME ... FOR MARK ZUCKERBERG TO RESIGN OR BE FIRED.”
Open MIC isn’t the only group bringing pressure on Zuckerberg. Last week, New York City comptroller Scott Stringer called for similar changes in Facebook’s board structure on behalf of the city’s municipal pension fund, a significant investor in Facebook. Stringer cited recent declines in the company stock as a result of seemingly irresponsible behavior. The company’s stock has declined nearly 15 percent since the most recent Cambridge Analytica details came to light. “We think there needs to be more board oversight,” Stringer said. “We think there needs to be an independent chairman of the board.”
Over the weekend, a separate editorial in The San Francisco Chronicle also called on Zuckerberg to resign.
The Facebook founder has adamantly resisted any calls to give up control of the company, telling The Atlantic in an interview this morning that he had not considered resigning because he’s “very confident that we’re gonna be able to work through these issues.”
Zuckerberg holds only 16 percent of Facebook stock but retains 60 percent of the company’s voting rights, making it all but impossible for investors to unseat him against his will. In September, Facebook’s board blocked a plan that would have entrenched Zuckerberg’s voting power even further by reclassifying the company’s stock.
Still, the calls for restructuring will likely increase the pressure on Zuckerberg as he prepares to testify before Congress later this week.
THE CAMBRIDGE ANALYTICA SCANDACOMMENTS
How scary is it to create a product, a very successful one a that, and how it grow so large that investors can now ask you to step down from the company that you built. That’s wild.
By Jones_life4 on 04.09.18 4:20pm
I’m sure he must be quaking in his $63 billion boots.
By Turbofrog on 04.09.18 4:24pm
While Open MIC does not hold any Facebook shares
It’s not like real, actual Facebook investors are saying this.
By TK-093 on 04.09.18 4:52pm
They can call all they want, I don’t think investors are in a position to muscle Zuckerberg out of Facebook. He’s got an iron grip on his company these days.
By ench on 04.09.18 4:59pm
Not scary as a young code ninja accidentally influencing worldwide behavior and thinking he’s a revolutionary in human communication. And even if that wasn’t scary, it’s scarier still to find out how such a platform can get abused under a founder’s nose to the detriment of millions of people.
By RainingGlitteryMind on 04.09.18 5:57pm
I think he made that choice to go public. At that point, it’s not really your company anymore.
By TheLonelyGecko on 04.09.18 6:46pm
That’s what happens when you make your company go public. You sacrifice some form of control to investors and stockholders. Your company is no longer really "yours"
By Ayo Loguneko on 04.09.18 6:50pm
Zuckerberg holds only 16 percent of Facebook stock but retains 60 percent of the company’s voting rights, making it all but impossible for investors to unseat him against his will.
By far the most important part of the story.
By d0mth0ma5 on 04.09.18 4:25pm
More importantly, it’s that known fact that underlie the decisions he has unveiled this week.
A profit-first board and CEO probably would not have gone this far.
By omo on 04.09.18 4:27pm
lol, he can do whatever the fuck he wants with Facebook and no one can do shit
By Tratia895 on 04.09.18 8:00pm
Facebook is not a product, it is a widget. A widget serves many purposes. The Government is at fault for the misclassifaction, the truth is no one knows what the he’ll this cheap is. Its poopy.
Poopy you know what poopy is? Toliet waste.
By Joseph Pi on 04.09.18 4:41pm
Was this comment written by a chatbot?
By 4ndrew on 04.09.18 4:51pm
People are shortsighted AF! Zuckerberg is not a saint, but he’s also not in this to be rich. Which can’t be said about pretty much any "independent" chairman of the board. If they were to put someone like that in charge, it’s pretty much guaranteed that in a few years the culture will shift to be even more shady, even more about using their users’ info for profit, and basically more of the stuff that people dislike FB right now for.
By 2late2die on 04.09.18 4:49pm
I agree. I honestly never had thought about that before. He kinda did it to make a cool product, not to get loaded.
By TheLonelyGecko on 04.09.18 6:48pm
Its got nothing to do with getting rich. This is about Zukerberg allowing millions of users data to to be given to 3rd party advertisers and analysts, and allowing fake news to thrive on the platform
By Drapery on 04.09.18 8:31pm
Zuckerberg should resign and if he doesn’t I hope that they have done something far worse that will come out and cause the stock to free fall.
By JediZenMaster on 04.09.18 5:03pm
Sorry, that’s not likely to happen.
By texazzpete on 04.09.18 5:16pm
Oh? Maybe you should read about what just happened with the biggest black lives Facebook page being a scam.
Stuff like this will continue to leak out. As much as race is an issue in this country let’s see how Facebook explains this away.
By JediZenMaster on 04.09.18 5:31pm
I’m sure that folks also said the same thing about Steve Jobs and Travis Kalanick also.
Your reply is full of hubris and much like priden.
By BlackToe on 04.09.18 10
Im sorry, but providing apis for 3rd parties to get users data (and their friends data) is a conscious decision, and any good CEO should have controls and monitoring in place to ensure these apis aren’t abused.
Sure a lot of other CEOs would do just the same thing as Zukerberg. But to imply that this makes it ok it just wrong.
CEOs need to be held to a high standard with our privacy, its a slippery slope if we condone it
Bahwa memimpin perusahaan dengan rangkap jabatan ITU akan berefek buruk,meskipun akan do rasakan saat jangka panjang .Namun berefek negatif bag I banyak orang.
Rangkap jabatan harus di hindari bag I kebaikan pribadi maupun perusahaan organisasi yang lebih besar.
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