Fifteen thousands of Facebook shareholders want to exclude Men from the Board of Directors.
Part of Facebook shareholders is in favour of the deletion of Mark Zuckerberg, the founder of the company, the Board of Directors.
With the exception of Zuckerberg from the control of the Board of Directors is a group of investors who are members of the human rights NGO SumOfUs.
The organization has positioned itself as a online community that affects global corporations with a view to their prosecution on a number of global problems, including global climate change, violations of workers ‘ rights, discrimination in its various forms, human rights violations, corruption and corporate takeover.
They are convinced that an independent person better cope with this role, “providing the desired control over the management of the company, improving corporate governance, and to establish a clearer plan of action for shareholders.”
In Facebook declined to comment on the proposal, but probably the company will release an official statement simultaneously with the submission of the report to the Commission on securities and stock operations of the USA in April 2017.
It is common practice when processing requests of the shareholders.
Submission of this proposal is connected with discontent of shareholders new share capital structure of the company, approved last year.
According to disgruntled investors, the amendments have led to a clear shift in the balance of power in favor of Zuckerberg.
During the meeting in June 2016 participants were asked to vote for the issuance of shares of class C that Zuckerberg could retain control of the company.
The vote was successful, but one of the investors still contesting this decision in court, considering it illegal. The plan arose after 2015, Zuckerberg has promised to donate 99% owned by him and his wife Priscilla Chan of Facebook shares to “improve the world”.
The issuance of shares of class C was needed to help Him in achieving his long-term goals and at the same time inspire to stay with the company as long as possible.
It is noted that SumOfUs concerned about possible negative consequences, but rather the potential loss in value of the shares due to the fact that too much of their time Zuckerberg spends outside the company.
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