A proposal seeking removal of CEO Mark Zuckerberg from the board because of the shareholder threat that has been emerged by the members of online consumer watchdog group sum of us, and contest that a combination of roles as CEO and number in BOD in a single person weakens a corporations governance, which results in harm in shareholder value. Moreover, a reported in venture beat cited Lisa Lindsley, the capital market adviser for Sum of Us, told to improve its corporate citizenship has been signed by 3,33,000 people out of which 1500 where company’s shareholder which eventually raised statement said that
“The shares held by four individual Sum Of Us members enabled us to file this proposal.”
Facebook has witnessed a strong growth under Zuckerberg’s leadership. Financial performance is the least of the company’s problem right now, with a quarterly profit of $3.57 Billion more than double the $1.56 Billion a year ago. Zuckerberg who owns the majority of the company’s share along with the Facebook CEO and Priscilla Chan can easily strike down the proposal of CEO removed with the board of members.
