Facebook shareholders call on Zuckerberg to step down as chairman
Facebook chief executive Mark Zuckerberg is facing pressure to resign his post as chairman following a series of scandals.
Several US public funds who own shares in the company have called for Zuckerberg to step down from the role after the social media giant “mishandled” a series of controversies.
Facebook was at the centre of the Cambridge Analytica Data leak and has been blamed for Russian influence in the US presidential election.
Public funds from Illinois, Rhode Island, Pennsylvania and New York City have lent their names to a proposal made by hedge fund Trillium Asset Management in June.
They say the chair of Facebook’s board should be an independent position to ensure transparency.
“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,” New York City comptroller Scott Stringer said.
The funds are thought to together hold around 5m of Facebook’s 2.9bn shares.