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A group of shareholders of Facebook proposes to withdraw the presidency to Zuckerberg

The proposal, which will be voted on at the end of May, nevertheless has little chance of success.

A group of investors wants to remove Mark Zuckerberg from the position of chairman of the board of directors of Facebook and choose an independent replacement, according to the announcement of the annual meeting of shareholders of the company, which will take place on May 30. The document, published this Friday on the website of the US Securities and Exchange Commission, contains the proposals that will be voted on during the event.

In the sixth of these proposals, investors describe the company's current problem: "Your dual-class actions give you [a Zuckerberg] approximately the 60% of the shares with voting rights of Facebook, leaving the council, even with an independent leader, with a limited capacity to control the power of Mr. Zuckerberg. "A situation that, they are convinced, affects the management and supervision of the company.

According to your calculations, at the 2017 meeting more than a half of the independent shareholders, – that is, those who are not members of the board of directors-, supported a similar proposal. However, this signal did not have any consequences, stresses the document.

Now, as it was two years ago, the chances of the proposal being approved are quite low, says Business Insider, since by controlling more than 50% of votes, Zuckerberg can effectively block the decision.


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