Multiple influential shareholders of social network Facebook have backed a proposal to officially remove founder and CEO Mark Zuckerberg from his position as chairman. This proposal has arisen as a result of multiple scandals Facebook has faced in the last few years, and of Zuckerberg’s perceived mishandling of the scandals and their fallout. These scandals include the alleged election meddling by Russia and the Cambridge Analytica data leak.
The proposal was brought to the table in June after being co-filed by state treasurers of several states, including Illinois, Rhode Island, and Pennsylvania. The proposal is currently on the backburner until the company’s next annual shareholder meeting in May of 2019. At this meeting, the proposal will ask that the chairman position be made independent.
New York City comptroller Scott Stringer, who also co-filed the proposal, said to Reuters “Facebook plays an outsized role in our society and our economy. They have a social and financial responsibility to be transparent – that’s why we’re demanding independence and accountability in the company’s boardroom.”
