According to the source, in recent month, Facebook loses their stock price dramatically. For this reason, many of the shareholders are willing to replace Mark Zuckerberg as CEO of Facebook.
On their proposal, they want to separate the place of chairman and CEO. Currently, CEO and chairman post are held by Mark Zuckerberg.
The disappointing earnings of Facebook forced the investor to re-think about their Mark Zuckerburg. Currently, Facebook has wiped out around US$120 billion of shareholder wealth.
According to James Kacouris, the marketplace was shocked when Facebook has faced the real truth. With lowing stock price and decreasing active user all across the globe, they are passing their worst days ever.
“A CEO who also serves as a chair can exert excessive influence on the board and its agenda, weakening the board’s oversight of management,” is written on the proposal.
Mark Zuckerberg holding the 60% of the voting rights on Facebook Inc.
Facebook has got dozens of different lawsuits after the user data privacy controversy that was caught by UK firm Cambridge Analytical.
After a US$150 billion loss on their stock market still, Facebook dominating as leader of Social media.
But it also hit hard Facebook and its CEO Mark Zuckerberg. Mark is currently worlded sixth billionaires lists.
However, the shareholders are in their opinion and they are seeking to replace Mark Zuckerberg.
According to them “Separating the chair and CEO positions reduce this conflict, and an independent chair provides the clearest separation of power between the CEO and the rest of the board.”
Recent months were not quite profitable for Facebook and they are drowning slowly. And investor is on their feet.