Keyword Search: Proposal
1 Article
Source: Fox News

Major Facebook shareholders want Mark Zuckerberg out as chairman

Friday 20:02 GMT

A group of major shareholders jointly backed a proposal this week to replace Facebook CEO Mark Zuckerberg as chairman of the board with an independent official amid a string of PR gaffes and scandals.

The proposal names several instances that shareholders allege Zuckerberg mishandled, including the data breaches and Russian meddling in the 2016 election. As New York’s comptroller, Stringer oversees a position in Facebook worth more than $745 million, the Journal reported.

1 Article
Source: DW

EU spells out Italy budget plan concerns

Saturday 18:11 GMT

European Economics Commissioner Pierre Moscovici said on Friday that the European Commission was waiting to see how Rome reacted to a letter he delivered listing concerns about Italy's planned 2019 deficit-raising budget before any decision was taken on whether to take action.

"If you break these rules and Italy deviates from eurozone rules, then it means Italy is endangering itself but, beyond that of course, is also endangering others," he added, saying that the EU was "not prepared to take over this risk" for Italy.

1 Article
Source: Reuters

At Facebook, public funds join push to remove Zuckerberg as chairman

Friday 01:31 GMT

(Reuters) - Four major U.S. public funds that hold shares in Facebook Inc on Wednesday proposed removing Chief Executive Officer Mark Zuckerberg as chairman following several high-profile scandals and said they hoped to gain backing from larger asset managers.

Among funds that are Facebook’s largest investors, the Vanguard Total Stock Market Index Fund and Fidelity Contrafund voted against the 2017 proposal, securities filings show, while the American Funds Growth Fund of America supported it.

“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte