Insiders inside Facebook and some lawmakers have repeatedly expressed concerns about Facebook and its CEO, Mark Zuckerberg. Their concerns center on the huge amount of power wielded by the company and Mark.
Recently, some Facebook shareholders are expressing the same concern about the CEO and some of the company’s executives. Some of the investors have suggested putting checks on the CEO’s grip on Facebook which he founded a couple of years ago.
One of the recommendations calls for the social media giant to elect a board chair from outside the company. The absence of such a chair, according to the shareholders, is responsible for the way Facebook mishandled some controversies.
Another proposal also suggests that the Class B shares that empower Mark with the power of 10 votes per share should be eliminated to enable the shareholders to limit Mark’s power. They also hope that such a move will enable them to “hold management accountable.”
Apart from the shareholders, several other people have also challenged Zuckerberg’s power and called for his removal as the CEO.
Recently, Chris Huges, a Facebook co-founder, invited for the breakup of the social media giant while protesting about the “unchecked power” Mark wields in the company.
A former chief security officer of the company, Alex Stamos, also suggested his former boss pick a replacement CEO in order to reduce his power.
In response to the calls for checks on Mark’s power and influence, the company has advised investors to vote against such proposals.