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Facebook Investors Seek Mark Zuckerberg to be Removed from Board of Directors

mark zuckerberg pic

Facebook shareholders are proposing to remove CEO Mark Zuckerberg from the board of directors. The shareholders claim that a combination of both roles may weaken a corporation’s governance, which also harms shareholder value. The shareholders are also members of SumOfUs, an online consumer watchdog group.

As per reports, the capital markets advisor of SumOfUs requested Facebook to improve its corporate citizenship has been signed by 3,33,000 people. Of which, 1,500 are Facebook shareholders itself. “The shares held by four individual SumOfUs members enabled us to file this proposal,” says, Lindsley, in a statement.

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Mark Zuckerberg owns a majority of shares have the chance to strike down the proposal along with other board members. Adding to this, it is proved that Facebook has observed a strong growth under the leadership of Zuckerberg. However, Facebook is now well off with the Financial performance with a profit of $3.57 billion quarterly.

The user base has increased 17 per cent up and now makes 1.86 billion regular users as of December 31. CEO Zuckerberg is a member of the Facebook board of directors since 2012. Zuckerberg and his wife Priscilla Chan has pledged to donate 99 percent of their shares to advance human potential and promote equality for children.

The proposal demands to target ad views based up on race, its role in the promoting misleading news, censorship, hate speech, and alleged inconsistencies, collaboration with law enforcement other government agencies.

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Recently, Facebook has started scanning fake news on its platform from August last year. There were allegations against conservative news in its Trending Section back then. Facebook denied the charges and removed human editors for deciding ‘Trending’ topics ever since then.

“There could be a 99 percent vote for it and the board would not be under legal obligation to implement it. However, most competent board members realize that it is unwise to ignore the voice of the shareholders whose interests they are charged with representing.” Said, Lindsely.

Chan Zuckerberg Initiative pledges $3 Billion to End Diseases

Chan Zuckerberg Initiative

Under the Chan Zuckerberg Initiative, chief executive officer of Facebook Mark Zuckerberg and his wife Priscilla Chan pledged more than $3 Billion towards the plan for “cure, prevent or manage all disease within our children’s lifetime.”

Chan speaking through the tears at an event held in San Francisco during the announcement about this initiative. Chan said that she hoped to spare parents the pain she had seen while delivering the difficult news as the pedestrian.

Mark Zuckerberg keeps up the Promise by Selling $95 Million of Stocks for Charity

She also added “In those moments and many others we’re at the limit of what we understand about the human body and disease, the science behind medicine, the limit of our ability to alleviate suffering. We want to push back that boundary.”

Chan Zuckerberg Initiative pledges $3 Billion to End Diseases

This event is addressed before business and the political VIPs including the Ex-Microsoft Corp Chairman Bill Gates, Mayor of San Francisco Ed Lee and the California Lieutenant Governor Gavin Newsom.

Later Zuckerberg told about the drastic changes and the achievements that had took placed over the last 50 years in the science and the medical community. Over these years without the help of the modern technology, includes in eradicating smallpox and eliminating Polio almost.

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“Today, just four kinds of diseases cause the majority of deaths,” Mark added this in his post on his Facebook page, Citing cancer, infectious diseases, heart disease,  and neurological diseases. “We can make progress on all of them with the right technology.”

Mark and Priscilla are so excited to share their next major initiative and supporting the scientific research to help cure, prevent and manage all diseases in our children’s lifetime. They are also giving the notes for learning more about how they are planning to help in reaching this ambitious goal.

Mark Zuckerberg keeps up the Promise by Selling $95 Million of Stocks for Charity

Mark Zuckerberg sells facebook stocks worth $95 million for family’s philanthropic initiative

Facebook CEO Mark Zuckerberg made his first big share sale after becoming a father. He sold stocks of social networking site Facebook to fund his family’s philanthropic initiative.

According to sources, The Chan Zuckerberg Foundation and CZI Holdings LLC sold Facebook shares worth $95 million. The price of the shares ranged from $122.85 to $124.31.

The couple has plans to give more than $1 billion worth shares for the organisation every year.

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“ Chan Zuckerberg Initiative” was declared by the couple Mr Zuckerberg and his wife Priscilla Chan when they became parents of girl child Maxima Chan Zuckerberg. They said that the foundation would be focusing on “personalised learning, curing disease, connecting people and building strong communities.”

Last December the couple pledged that they would give 99% of the shares of Facebook to charity during their lifetime.

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“We will give 99 per cent of our Facebook shares during our lives to advance this mission. We know this is a small contribution compared to all the resources and talents of those already working on these issues. But we want to do what we can, working alongside many others,” the couple wrote on Facebook. Currently, Facebook has more than 1.7 billion active users.