Holy SMOKES! Is Mark Zuckerberg Getting FIRED?!
OMG… He’s Serious: Avenatti Kicks His “Campaign” Up A Notch
July 26, 2018This Is Why You Should NEVER Steal Soda From McDonald’s
July 26, 2018OOMPH!
This has GOT to be a blow to that massive ego of his.
Facebook has basically had a day from hell:
Facebook braces for biggest one-day wipeout in US stock market history as its shares plunge 20 percent, wiping $128 billion off the company’s value https://t.co/w11cgOB5vs
— Daily Mail US (@DailyMail) July 26, 2018
128 BILLION dollars, folks. In ONE day.
Breaking News: Facebook shares plunged more than 18 percent in early trading, erasing over $110 billion from the social media giant’s market value in minutes https://t.co/g7dRgy7uC8
— The New York Times (@nytimes) July 26, 2018
110 BILLION in MINUTES.
As you can imagine, shareholders are LIVID…
And Zuckerberg’s head is on the chopping block.
Shareholders are trying to fire Mark Zuckerberg as chairman of Facebook because of the social media giant’s ‘mishandling’ of recent scandals, including the Cambridge Analytica data saga, Russian meddling in the US election and fake news.
Investment company Trillium Asset Management, who has about $11 million in Facebook stock, filed a proposal on Wednesday to break up Zuckerberg’s role as both chairman and CEO, Business Insider reports.
The proposal argues that shareholders are unable to check Zuckerberg’s power given he holds roughly 60 percent of Facebook’s voting shares as both chair and CEO.
‘A CEO who also serves as chair can exert excessive influence on the board and its agenda, weakening the board’s oversight of management,’ the proposal states.
‘Separating the chair and CEO positions reduces this conflict, and an independent chair provides the clearest separation of power between the CEO and the rest of the board.’
This guy was literally eyeing a presidential run a year ago…
Now he’s in a SWIFT downward spiral.
The higher you go… the harder you crash, am I right?
The investment company says this oversight has contributed to Facebook ‘missing or mishandling’ several ‘severe controversies’ in past years, which they say increases risk exposure and costs to shareholders.
The specific examples the shareholders used include: Russian meddling in US election, the sharing of 87 million users’ personal data with Cambridge Analytica, proliferating fake news and social unrest in Myanmar and Sri Lanka.
Chances of Zuckerberg’s roles being split remain slim given Facebook has rejected similar shareholder requests in the past. A proposal last year to oust Zuckerberg as chairman received 51 percent of the votes.
So… If Zuck gets booted… will they FINALLY stop censoring us?!?!
I’m not holding my breath.
