Is Mark Zuckerberg losing grip of his own company?
- 8 years ago
Should Mark Zuckerberg leave Facebook, he would not retain his iron grip on the company under a proposal from the board of directors.
The Facebook board is asking shareholders to vote on the proposal that would deny Zuckerberg voting control if he is no longer running under the current agreement.
Under the current agreement, Zuckerberg would be able to exercise voting control even if he leaves the company.
The succession planning does not suggest Zuckerberg, 32, is planning on stepping down anytime soon.
At present, the shares owned by Zuckerberg - who is the CEO of the company represent about 53.8 percent of the total voting power.
The Facebook board is asking shareholders to vote on the proposal that would deny Zuckerberg voting control if he is no longer running under the current agreement.
Under the current agreement, Zuckerberg would be able to exercise voting control even if he leaves the company.
The succession planning does not suggest Zuckerberg, 32, is planning on stepping down anytime soon.
At present, the shares owned by Zuckerberg - who is the CEO of the company represent about 53.8 percent of the total voting power.