Facebook investors want Mark Zuckerberg to resign

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Facebook CEO Mark Zuckerberg Christophe Morin IP3 Getty Images

Jonas Kron, a senior vice president at Trillium Asset Management, a USA investor which owns an £8.5 million (NZ$15.86m) stake in Facebook, last night called on Zuckerberg to step down as board chairman in the wake of the report.

"Facebook is behaving like it's a special snowflake". "It's not. It is a company and companies need to have a separation of chair and CEO".

Sandberg joined Facebook CEO Mark Zuckerberg in claiming not to know about the activities of Definers, the PR firm that promoted investigations of the Open Society Foundation.

The gist of The New York Times article is that Facebook's leaders were too focused on growth to effectively deal with Facebook's hijacking in elections, and that when outsiders began asking questions, Zuckerberg, Sandberg, and others went on the offensive. The business had also been accused of attempting to encourage journalists to report that anti-Facebook groups were linked to George Soros, the paper said.

In a press call, Zuckerberg denied he had any prior knowledge about this firm.

"I would prefer that the innovative private sector come forward first with a proposal for how they would handle data privacy and some of these very worrying technological developments and let us negotiate and work through it together", Coons said.

Facebook's chief operating officer, Sheryl Sandberg, has responded to the bombshell New York Times report on mismanagement at the company.

"People naturally engage with more sensational content", Zuckerberg said Thursday on a call with reporters.

"The latest report should remove any lingering doubts that some may have had", he said.

Investors claim that Clegg faces a hard task repairing Facebook's reputation due to his unfamiliarity with Silicon Valley.

'In addition, the staggering amount of data that Facebook has collected on both its users and people who have not subscribed to or consented to use of the platform, raises concern that the company could improperly or illegally use its vast financial and data resources against government officials and critics seeking to protect the public and our democracy'. "Mark and I have said many times we were too slow", she said. "What powers is this guy really going to have?"

In the letter, the senators ask Zuckerberg several questions relating to the Times' report, including whether Facebook has retaliated against critics or obfuscated on its positions, and whether it ever sought to hide information related to foreign meddling in the 2016 USA election from government investigators from the public. While announcing he was stepping down, Schrage said Zuckerberg and Sandberg had asked him to stay on as an adviser and that he had agreed to do so. "The allegations saying I personally stood in the way are also just plain wrong", she wrote in a Facebook post.

Investor Natasha Lamb, of Arjuna Capital, told The Telegraph that Zuckerberg's role as chairman and chief executive means the social network can avoid fixing problems in the company.

"That concentration of power creates a lot of defensiveness within the company", she said.

"Regardless of who shows up at board meetings, Mark still has all the power to control the company", she said.

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