11.8 C
New York
Saturday, November 28, 2020
Home Stories Investors rallied around for Zuckerberg’s resignation as Facebook Chairman

Investors rallied around for Zuckerberg’s resignation as Facebook Chairman

For hiring a PR firm to bring out dirt on its competitors and critics, the social network giant Facebook’s investors have demanded a resignation of the social network CEO and Chairman Mark Zuckerberg.

Jonas Kron, Senior Vice President at Trillium Asset Management which owns a substantial stake in Facebook told The Telegraph that the social network site is behaving like it’s a special snowflake. The company need to have a separate chair and CEO, he added. The voice got support from another investor Natasha Lamb.

Earlier, The New York Times revealed that Facebook hired Definers Public Affairs for the social networking giant. The PR firm had allegedly published news articles criticising FB’s competitors.

Mark Zuckerberg denied having knowledge of the development and the firm. However, he confirmed that Facebook is no longer working with the PR firm. Zuckerberg had asked Sir Nick to review the business’ lobbying operations.

Facebook and its COO Sheryl Sandberg denied it of using PR firm as a tool of an anti-Semitic attack against critics.

Fourteen years old Facebook is majorly controlled by Zuckerberg. His ownership represents 60 per cent of the company’s voting shares.

In Silicon Valley, it is common practice by the founders to retain control of the firm.

Recently, Tesla had appointed Robyn Denholm as the new chairman of the board replacing Elon Musk who held the post for 14 years. Last year in June, Uber CEO Travis Kalanick had to resign as CEO after pressure from shareholders.

Source: Entrackr

To Read Our Daily News Updates, Please Visit Inventiva Or Subscribe Our Newsletter & Push.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Most Popular

Asian stocks fall amid unease about vaccine development

Asian stock markets declined on Friday as questions about the effectiveness of one possible coronavirus vaccine weighed on investor optimism.Benchmarks in Tokyo, Hong Kong,...

India discusses further opportunities to work with UAE in a ‘changing world’

Noting that the experiences from the COVID era hold lessons for both India and the United Arab Emirates, External Affairs Minister S Jaishankar has...

‘Let’s Change Everything Except our Wives and Children’, Lee Kun-hee in 1987 that changed the story for Samsung; Year 2020, A look inside Samsung’s...

We need no introduction to Samsung, a South Korean multinational headquartered in Samsung Town, in Seoul; it was founded in the year 1938 as...

Govt Permits Taxi Aggregators Like Ola, Uber To Charge Drivers 20% Commission Of Total Fare

Taxi aggregators like Uber and Ola will draw an expense of 20% of the base admission, the vehicle service said in a bunch of...

Recent Comments

%d bloggers like this: