Facebook is that tech company which is ultimately ruling the social media industry from the last couple of years. However, from last few months, the decisions which took by its CEO and Founder Mark Zuckerberg have made lots of controversies. Now according to recent reports, it’s been found that investors of Facebook wants to remove Mark from the chairmanship. A group of investors has together to remove Mark from chairmanship, and they have proposed the plan for it also. Mark has been indirectly controlling every part of the company since he has more than 60% of the company’s total voting shares which gives him immense control over every decision he takes.
Now some investors think such kind of dominance is what ruining the company and they need to stop it also that’s why they have proposed a plan for it. The proposal has been given by the investors which shows that having such type of controls might ruin the company. The proposal said independent board chairmanship had contributed nothing but misleading and mishandling of decisions which has brought too much controversy on the company. If we look back, then the last few months have not been good for Facebook.
Facebook’s goodwill is getting diminished because of the disputes it is going through. Now some investors have come together to stop the ultimate monopoly which Mark is having over Facebook. The famous Cambridge Analytica scandal has made lots of news because there have cases where Facebook’s users’ data have been used during election campaigns. So now many people are scared about their data privacy because they think it’s not safe anymore and investors are blaming Mark for this situation. However, investors can’t take away the independent power which Mark has because they don’t have sufficient voting power to do so.