FIRST AIRED: October 17, 2018

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COMING UP:Share Opener Variant 3

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Transcript

00:00:00
>> After a number of high profile scandals, several large public funds that hold shares in Facebook are joining calls for CEO Mark Zuckerberg to be removed as company chairman. In April, Zuckerberg was defending his company on Capital Hill against accusations of spreading fake news during the 2016 presidential election and mishandling personal data.
00:00:24
>> I'm committed to getting this right. This includes the basic responsibility of protecting people's information, which we failed to do with Cambridge Analytica.>> That failure and other controversies have triggered calls for Zuckerberg to be replaced. Now, several public funds that hold shares in Facebook in a proposal called for him to be removed as chairman.
00:00:46
The proposal calls on Facbook's board to make the role of board chair an indipendent position. Zuckerberg has about 60% voting power. The proposal is set to be voted on at the company's annual shareholder meeting in May 2019