Facebook founder Mark Zuckerberg has seen off a shareholder revolt at the company's annual general meeting which sought to remove him as chairman of the social network.
Zuckerberg, who owns 60% of Facebook's voting shares, is both CEO and chief executive chairman, but some shareholders have expressed concerns about his leadership.
The meeting, which took place on Thursday, had plenty of concerns for Zuckerberg, with other motions for him to fight such as a request to breakup Facebook as a whole and calls that it submit information on its gender pay gap - both were rejected.
There was more trouble for Zuckerberg outside, on the streets of Menlo Park, where protestors gathered to voice their concerns. Campaign group SomeOfUS came with a ballon in the shape of an angry face emoji.
"The drumbeat for accountability at Facebook is becoming deafening," said Lisa Lindsley, capital markets advisor for SumOfUs. "Mark Zuckerberg has failed to safeguard customers' children, data, and civil liberties from state overreach.
"From the leaking of millions of peoples personal data to the Christchurch Mosque terrorist attacks, Facebook has consistently proven its lack of care for its users and is ever more closely associated with the proliferation of racism and hate online. Its latest actions to limit the consequences are too little and far too late."
Despite the growing pressure for activists and shareholders alike, Zuckerberg came out of the meeting with his two job titles still intact. Perhaps highlighting that he does indeed have too much power being at the helm of one of the biggest companies in the world.
Jonas Kron, senior VP at Trillium, which owns about $7 million worth of shares in Facebook, is one of the companies calling for Zuckerberg to drop his role as chairman.
"He's holding down two full-time jobs in one of the most high-profile companies in the world right now," he told the BBC. "And if he can focus on being the CEO, and let somebody else focus on being an independent board chair, that would be a much better situation.
"He has examples in Larry Page and Alphabet, Bill Gates and Microsoft, of what it can look like for a founder not to be the chairman of the board. I realise that it may not be an easy step to take, but it's an important step that would be to his benefit and to his shareholders' benefit."
-
Google CEO Sundar Pichai says vibe coding has made software development ‘exciting again’News Google CEO Sundar Pichai claims software development has become “exciting again” since the rise of vibe coding, but some devs are still on the fence about using AI to code.
-
15-year-old revealed as key player in Scattered LAPSUS$ HuntersNews 'Rey' says he's trying to leave Scattered LAPSUS$ Hunters and is prepared to cooperate with law enforcement
-
UK firms are pouring money into AI, but they won’t see a return on investment unless they address these key issuesNews An SAP report projects increased AI investment, but cautions that too many organizations are taking a fragmented approach
-
Intel makes high-level hires while factory workers are warned of layoffsNews The company is appointing four senior executives as part of efforts to refocus on engineering and customer relationships
-
UiPath names Simon Pettit as new AVP for UK and IrelandNews The seasoned leader will spearhead region-specific transformation projects as UiPath looks to drive operational growth and customer engagement
-
How to empower employees to accelerate emissions reductionin depth With ICT accounting for as much as 3% of global carbon emissions, the same as aviation, the industry needs to increase emissions reduction
-
Worldwide IT spending to grow 4.3% in 2023, with no significant AI impactNews Spending patterns have changed as companies take an inward focus
-
Report: Female tech workers disproportionately affected by industry layoffsNews Layoffs continue to strike companies throughout the tech industry, with data showing females in both the UK and US are bearing the brunt of them more so than males
-
How can small businesses cope with inflation?Tutorial With high inflation increasing the cost of doing business, how can small businesses weather the storm?
-
How to deal with inflation while undergoing digital transformationIn-depth How can organizations stave off inflation while attempting to grow by digitally transforming their businesses?
