United States  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Is Facebook Facing an Internal Revolution? Shareholders Aren’t Happy

One News Page Staff Tuesday, 3 July 2018
Is Facebook Facing an Internal Revolution? Shareholders Aren’t Happyby 👨‍💻 Graham Pierrepoint

We’ve been covering Facebook quite a bit in recent months, but for good reason – scandals regarding their sharing of user data with firms such as Cambridge Analytica have forced Mark Zuckerberg and his brand to rethink their privacy policies and to eat a fair few slices of humble pie. There have been continued concerns mounted over data sharing and user rights as the year has gone on, and while the social network still holds firm with an enormous user base, their public image is continuing to suffer in the wake of such aforementioned scandals and thanks to continued media pressure. Six investors in Facebook have voiced their concerns in recent days that Zuckerberg has a ‘dictatorship’ over the brand – leading some to discuss whether or not an internal revolution may be on the cards.

Facebook Reveals It Shared User Data With Over 50 Hardware And Software Companies
Facebook Reveals It Shared User Data With Over 50 Hardware And Software Companies

Six shareholders who own around $3 billion in total via Facebook are reportedly considering ways to unseat Zuckerberg from his various roles in the business, concerned that the CEO has the ability to quash any motions for change in the running of the firm – even after scandals as large as the data sharing saga that occurred earlier this spring. It’s thought that Zuckerberg is being sought to step down from his position as Chairman, at the very least, so that an impartial figure may take over and allow for internal voices and shareholder concerns to be given greater value. Zuckerberg holds the position of both Chairman and CEO at Facebook – meaning that, essentially, he and his actions are accountable to himself. It’s a situation that is growing unpopular with several heavy investors in the brand.

The Office of the New York Comptroller has a stake in at least $1 billion in Facebook’s stock, and its Corporate Governance Director, Patrick Doherty, is one of those whom are less than pleased with the way the company is being run. “The idea that there should be an autocrat in charge of a gigantic public company which has billions of dollars of shareholder money invested in it is an anachronism,” Doherty explained. “It harks back to the 19thcentury, when you had these robber barons who were autocrats and dictators.”

Report: Facebook Investors Want To Oust Mark Zuckerberg as Chairman
Report: Facebook Investors Want To Oust Mark Zuckerberg as Chairman

Will Zuckerberg relinquish his grip on the brand – if only a little – given the year Facebook has already had? It will remain to be seen – as the social network pushes on forwards.

0
shares
ShareTweetSavePostSend
 
Credit: NYDN tronc - Published < > Embed
News video: Facebook Drops Plans For Massive Internet Drones

Facebook Drops Plans For Massive Internet Drones 01:01

Facebook Drops Plans For Massive Internet Drones. The company’s Aquila project was an effort to build solar-powered, passenger jet-sized drones. The drones were meant to wirelessly connect parts of the developing world to the internet. Facebook’s Director of Engineering Yael Maguire wrote the...

Recent related videos from verified sources

Facebook Earnings Will Be Here Before You Know It -- Here's How to Get Ahead [Video]Facebook Earnings Will Be Here Before You Know It -- Here's How to Get Ahead

It's all about Instagram. Yes, stock analysts and the media have been saying Instagram is key for almost a year now. But what if someone told you, the market does't even know how much in additional..

Credit: The Street     Duration: 01:33Published

Facebook embeds tracking code to images uploaded by users [Video]Facebook embeds tracking code to images uploaded by users

MENLO PARK, CALIFORNIA — A law student at the University of New England in Australia claimed on Twitter that he has found evidence that Facebook is embedding 'hidden codes" on photos shared by users..

Credit: TomoNews US     Duration: 02:01Published

Facebook Removes Murderer's Fake Profile [Video]Facebook Removes Murderer's Fake Profile

Profiles used to stalk people and commit murder remain on Facebook...years later. Why they haven't been removed.

Credit: KMTV Action 3 News     Duration: 02:01Published

Senator John Kennedy Questions Facebook's Values [Video]Senator John Kennedy Questions Facebook's Values

Sen. John Kennedy recently talked about Facebook at the Senate Committee on Banking, Housing and Urban Affairs. According to Business Insider, he suggested Facebook was undermining effective..

Credit: Wochit     Duration: 00:32Published

You Might Like


Other recent news in Internet

Prep to get certified in CISCO SYSTEMS networks for only $31APOLLO 11 moon landing videotapes sell at auction for $1.8 million
•More original news reports from One News Page
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.