Influential Facebook shareholders back proposal to remove Zuckerberg as chairman

By Kitco News / October 17, 2018 / www.kitco.com / Article Link

(Reuters) - Several public funds with holdings in Facebook Inc on Wednesday backed a proposal to remove Chief Executive Officer Mark Zuckerberg as chairman.

The proposal, originally bought to the table by hedge fund Trillium Asset Management, is now backed by state treasurers from Illinois, Rhode Island and Pennsylvania. New York City Comptroller Scott Stringer also joined the shareholder proposal.

The proposal is asking Facebook's board to make the role of board chair an independent position.

Reporting by Arjun Panchadar in Bengaluru; Editing by Bernard Orr

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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