Facebook Boardroom War in Swing : Investor’s Want Mark Zuckerberg To Step Down
Amidst growing series of scandals, data breach allegations, and Cambridge Analytica disaster, social media company Facebook is facing investor's fury where investors are growing increasingly restless on how Facebook is run, demanding radical changes.
According to Business Insider's conversation with six prominent shareholders, it is clear that investors have become rebellious over company's corporate governance structure which hands Mark Zuckerberg the sole power as both CEO and Chairman.
New York City Comptroller Scott Stringer, who oversees around $895 million of Facebook shares through city pension funds said, "We have concerns about the structure of the board that the company doesn't seem ready to address, which can lead to risks - reputational, regulatory, and otherwise."
While ...