Just Hours After Their Shares Went Into A Free-fall, Facebook Shareholders Try To Fire Mark Zuckerberg As Chairman!

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And today karma hit Facebook hard as Zuckerberg’s $17 billion loss is likely the largest one-day loss any single investor has ever suffered in the stock market since few other investors have ever had as much to lose. Facebook’s overall market loss of at least $150 billion has been described by Bloomberg as a “rout that could rewrite the history books.”

The share price drop is set to make today Facebook’s worst 24 hours of trading since it went public six years ago.

But Zuckerberg’s problems didn’t stop there as shareholders are now trying to fire Mark Zuckerberg as chairman of Facebook because of the social media giant’s ‘mishandling’ of recent scandals, including the Cambridge Analytica data saga, Russian meddling in the US election and fake news.

Trillium Asset Management, an investment company who own around £8.4million in Facebook stock, filed a proposal on Wednesday to split Zuckerberg’s role as both chairman and CEO, Business Insider reports.

Investors are holding Mark Zuckerberg’s feet to the fire on the heels of a disappointing earnings report that caused shares to crater in after-hours trading Wednesday, with one drawing up a proposal that the social media site’s founder is removed as chairman.

They argue that shareholders are unable to check the founder’s power because he owns 60 percent of the company and occupies the two highest positions.

Do you think that this will be an end of an era?
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Alex Hall

Alex D is a conservative journalist, who covers all issues of importance for conservatives. He writes for Conservative US, Red State Nation, Defiant America, and Supreme Insider. He brings attention and insight from what happens in the White House to the streets of American towns, because it all has an impact on our future, and the country left for our children. Exposing the truth is his ultimate goal, mixed with wit where it's appropriate, and feels that journalism shouldn't be censored. Join him & let's spread the good word!

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