Mark Zuckerberg has been both the CEO and Chairman of Facebook for a while now.
There has been quite some controversy revolving Facebook for the past 2 years. To name a few are the Cambridge Analytica and the election involving themselves on social media platforms.
A meeting is conducted with the shareholders of the company every year in Silicon Valley and it is reported that the majority of the shareholders are disappointed with the fact that Mark Zuckerberg holds the position of both the CEO and Chairperson.
This is because they believe that he has not been making the best decisions for the company in recent times and moreover when a wrong step is taken, the board cannot make a bold decision as most of the power is focused on Mark Zuckerberg himself.
To fix this, the shareholders have reportedly drawn up a solution i.e. to rip apart the dual-class structure that Facebook has had by appointing a new Chairman for the company.
This is the brainchild of Trillium Asset Management who is one of the shareholders and hence, the one to present the aforementioned proposal would be the vice-president of the same company, Jonas Kron.
To quote his words "We have watched with growing dismay as that list of controversial and damaging social impacts grew very long.
And as rigorous reporting from the New York Times has shown us, having a unified chair and CEO severely limited the board's ability to provide the company with the oversight it needed."