After so many mishaps on facebook. Finally, the shareholders of Facebook started to shout loud. The Treasuries of the Federated States of Illinois, Rhode Island, Pennsylvania, and New York City, which have shares in Facebook, and the investment group Trillium Asset Management urge to replace the founder of the social network with an independent personality to improve governance within the company.
Trillium had made the proposal in June, claiming that Facebook “needed more independent oversight after a series of scandals,” especially the leak in personal data that occurred in late September, where information from about 23 million profiles was compromised. Investors say that the incident “undermined user confidence and damaged the public image of the network.
“Facebook plays a very important role in our society and economy and has a social and financial responsibility to be transparent,” said the treasurer of New York City in a statement.
The proposal will be voted at the Facebook General Assembly in May 2019.
The criticism of Zuckerberg follows after a year in which Facebook was involved in scandals over data breaches by millions of users and in which Zuckerberg himself testified before the Energy and Trade Committee of the US Congress House of Representatives and the European Parliament on information management across the network.