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Facebook’s shareholders want Zuckerberg’s dismissal

According to the shareholders, the policy of the company is not strong enough to protect the user's personal data
10:10, 9 June 2019

Open source

Most of the external shareholders of Facebook, 68%, voted for the appointment of an independent CEO of the company instead of Mark Zuckerberg, according to Voice of America.

The main reason for Zuckerberg being criticized by external shareholders is the policy of the company, which is not strong enough to protect the user's personal data.

However, according to the report, it is likely that this vote will not lead to an immediate change of leadership. The reason is a two-tier system of shares, according to which every share that Zuckerberg and the company management have is equal to ten votes when making decisions. At the same time, the external shareholders have one vote each.

Related: Zuckerberg reports on Cambridge Analytica scandal at EU Parliament

"This allows the company to receive investment, but not to disperse control of the company. Zuckerberg has 58% of the votes in the company due to his block of stock. In other words, only Zuckerberg can dismiss Zuckerberg, "the report added.

As it was reported earlier, against the scandal with data leak of 50 million users and the use of it by Cambridge Analytica Company, Facebook reported on the simplifying of the privacy settings.

Zuckerberg was invited to the European Parliament to explain this incident. He should explain whether the use of European's data for the manipulation took place. It could be used by London’s Cambridge Analytica Company during Trump's election campaign.

On April 10, Zuckerberg has already testified in the hearing at the U.S. Senate.

Related: Zuckerberg agrees to webstream meeting with EU members

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