In businesses, there will be a time when things won’t work out on your demand, and it seems like Mark Zuckerberg, the founder of social media giant Facebook might be going through that phase. Recently it’s been reported that Facebook’s other investor shareholders have decided to cast out Mark Zuckerberg as the Chairman and number of people who want to see Mark out are increasing. The general meeting held by Facebook executives included those shareholders who have right to vote to choose the company’s Chairman, and as a result, they want to see new independent Chairman.
Mark is undoubtedly one of those promoters who have invested the idea of Facebook also from that time he is holding his crown correctly. Accordingly, more than 68% of other investors want to see Mark stepping down from position of Chairman, that number has been increased from last year’s 51%. It seems like the problems are growing every year for Mark, but even though others want to see him out, the power still rests with him. Mark owns more than 51% of the shares of Facebook, which makes him uncontrollable, and he can do whatever he wants. He can even dismiss the proposal of shareholders to replace himself without any worry.
However, it’s not about whether Mark has that much power or not, but it’s about the problems which many of his colleagues think he is creating for company. In 2016’s US election it’s been found that Facebook was guilty in Cambridge analytical scandal which negatively affected on company’s goodwill. There are have been many times when it’s been revealed Facebook is not using right parameters to protect its users’ data which has dragged lots of hefty penalties from EU because of GDPR rules. Now how Mark is going to make things work smoothly will be an exciting thing to see in future.
William has an experience of more than seven years writing for the web. In the recent couple of years, he’s been focusing on the business sector, watching market trends and the growth of economies. At News IMN, we use his services to keep our readers updated about the market that decides their lives.