Mark zuckerberg refuses to step down as Facebook chairman
The Facebook Chief Executive Officer, Mark Zuckerberg, is fighting back against the demand for him to step down as chairman. Zuckerberg made the comments of not stepping down in a recent interview with CNN.
According to Facebook’s latest proxy, Zuckerberg share of the voting power amongst Facebook investors was 59.9%, meaning shareholders can’t force him out of the position as CEO of Facebook.
He said quitting as Facebook chairman would be a bad idea, as investors call for his head amid a firestorm of scandals.
Facebook has previously said dividing the roles would create “uncertainty, confusion, and inefficiency.” Although Zuckerberg did not go that far, it’s clear he still sees it as a bad idea.
Another Facebook investor Natasha Lamb from Arjuna Capital said the combined role of chairman and chief executive means that “Facebook can avoid properly fixing problems inside the company.