Board Chair: Company and Facebook

board chair: Investors voted on eight independent shareholder proposals, all aimed at reforming a company that has seen its reputation shredded in recent years over concerns including data misuse, anti-competitive behavior, incitement of genocidal violence, and the hijacking of democratic elections, according to The Independent. Facebook cofounder calls for company to break up over 'unprecedented' power Read more Among the proposals with the most momentum were a plan to eliminate Facebook's dual-class share structure and another to require an independent board chair. The eight-foot frowny face that protesters took to Facebook's annual meeting Thursday in Palo Alto, California, was just one of numerous manifestations of investor and activist anger at the social media company. Both were doomed to fail due to the very issue they aimed to address Mark Zuckerberg, who is both chair and chief executive, controls more than 50% of the voting shares for the company, despite owning only about 15% of the company in total. Natasha Lamb, managing director of Arjuna Capital, described the company as Zuckerberg's failing autocracy while advocating for a report on how Facebook's mismanagement is affecting human rights and democracy around the world. All eight were duly defeated, but only after their proponents had a chance to address Zuckerberg and other assembled board members. (news.financializer.com). As reported in the news.