Angry Facebook Shareholders Fail to Dislodge Mark Zuckerberg as Chairman

By Danielle Abril, May 30, 2019

Facebook CEO Mark Zuckerberg will remain as chairman after a shareholder vote to curtail his power failed.

The proposal, voted down at Facebook’s annual shareholder meeting on Thursday by an undisclosed margin, required that Facebook appoint an independent chair to replace Zuckerberg. Critics had pushed for the vote following a string of controversies at the social media giant including privacy snafus, use of its service by to spread disinformation, and a lack of independent oversight.

The actual result at the meeting was foregone conclusion. Zuckerberg controls the majority of votes and is in no mood to loosen his stranglehold over the company that he co-founded.

Click here to read the full article.