Facebook: It is seething against the sole ruler Zuckerberg

The social media group Facebook is rumbling behind the scenes. The independent investors would prefer to curtail the company founder Mark Zuckerberg in his power over the company. However, they have the problem that they still have a majority of voting rights.

At the annual general meeting of Facebook once again the application was made to deselect Zuckerberg at least as head of the board, as emerges from a report by the US magazine Business Insider . He currently holds this position as well as the CEO. Thus, the Facebook founder continues to be the supreme overseer of his own activity.

In the view of a growing number of shareholders, this is quite problematic, as it is now dealing with a company that represents enormous equity values ​​and, of course, has enormous influence on important sectors of the digital economy. So if Zuckerberg would steer the group in a problematic direction, nobody could stop him - at least, as long as everything takes place in a legal framework.

Fight against a windmill

In this respect, the application is, of course, primarily symbolic, but also says something about the mood of independent investors. As such, those are referred to who are not Zuckerberg or who also belong to the management of the company. And they voted now with 68 percent of their voting shares for a replacement of the Facebook founder at least at the head of the Supervisory Board. As an identical content application was made two years ago, he came first to 51 percent.

The shareholders are quite dissatisfied with several transactions. In particular, this is about the way Zuckerberg dealt with various crises that make the corporation vulnerable - be it the data scandals surrounding the Cambridge Analytica complex or the handling of political advertising.

There was similarly little chance of success, but a lot of symbolic character, with a second proposal to terminate the two-class company among the shareholders. There are two variants of Facebook shares with voting rights. Ordinary investors get Type A shares, which have one vote per share. And then there are the type B notes, each with ten votes. The latter are of course majority owned by Zuckerberg, the rest is in the depots of his closest confidants in the management.


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