According to Reuters, shareholders at Facebook are totally behind ousting Mark Zuckerberg from his position as the company’s chairman. The mutiny process is being attempted once again, as Zuckerberg is alleged to have caused “uncertainty, confusion, and inefficiency in board and management function and relations.”
Today, in fact, New York City Comptroller Scott Stringer co-filed initial proposal to oust Mark Zuckerberg, first proposed by Trillium Asset Management earlier in the summer. The proposal, which will be voted on by Facebook’s shareholders in the not-so-distant future, hopes to make the seat voided by Zuckerberg, an independent roving position.
“Facebook plays an outsized role in our society and our economy. They have a social and financial responsibility to be transparent – that’s why we’re demanding independence and accountability in the company’s boardroom,” Stringer said as he co-filed the proposal. Facebook incorporated has refused to comment on the planned intervention, in any capacity remotely possible.
In 2017, a planned intervention was eventually turned down, but experts suspect that tide may have shifted to reflect the shareholder’s growing discontent. Trillium Asset Management owns about 53,000 of Facebook’s shares, while another 4.5 Million are in the possession of the The New York City Pension Funds. The Pennsylvania Treasury has another 38,737 to its name and the Illinois Treasury owns 190,712 shares (as of August).