One of Facebook's major investors is calling on the social network to drop CEO Mark Zuckerberg from its board as part of a management shakeup.

Scott Stringer, New York City Comptroller and the person in charge of investing the city's $195bn pension fund, called on Facebook to add three new independent members to its board of directors and remove Zuckerberg as chairman of the board.

Stringer, who estimates his city's fund has sunk about $1bn into purchasing Facebook shares, called on the board to make changes in the wake of revelations on the company's cooperation with Cambridge Analytica in the run-up to the 2016 elections.

While Stringer says he does not plan to pull the Big Apple's investment bucks out of Facebook, he is calling directly on the board to consider his request for a shake-up in the wake of a data scandal that saw the company lop $50bn from its market cap and lose the trust of many users.

Currently, Facebook's board of directors consists of Zuckerberg (who is chairman), COO Sheryl Sandberg, VCs Marc Andreesen, Peter Thiel, Erskine Bowles, and Kenneth Chenault, Gates Foundation CEO Susan Desmond Hellmann, Netflix CEO Reed Hastings, and WhatsApp CEO Jan Koum.

"We think there needs to be more independent board oversight, I think there needs to be an independent chairman of the board," Stringer said in a TV interview.

"I think we need more independent directors, and directors that have experience in terms of data, and ethics, and all the things that these emerging huge companies need in light of what's happened."

There's a risk to our democracy

The 'what's happened' in this case being the revelation that Facebook had allowed a researcher to harvest the data of around 50 million of its users for use in creating targeted ad campaigns in the run-up to the 2016 US presidential elections for political strategists at Cambridge Analytica.

"There's a risk to our democracy," Stringer said.

"This third-party company rerouted data that ended up benefiting a presidential candidate and in light of the Mueller investigation I think Congress has to ask these tough questions."

Stringer concedes that, when it comes down to it his group won't have much sway, even with the billion-dollar investment. Because Zuckerberg controls around 60 per cent of the voting shares, the Facebook CEO has the power to stamp out pretty much any effort that he doesn't approve of. Instead, Stringer says, he hopes to appeal to Zuck and the board's interest in the company's bottom line.

"We're not trying to harm Facebook, we're trying to make it a stronger company," the comptroller contends.

"When something like this happens, and maybe it was a long time coming in light of these investigations we really have an obligation to step up."

Meanwhile, at Facebook

The social network proved this week that it doesn't need help to embarrass itself. Reports have surfaced that some deleted videos were not actually being wiped from Facebook servers and could still be accessed. Facebook has said the saved videos were the result of a 'bug' and that it would resolve the issue and delete the videos for real.

Then there's Zuck himself, who couldn't help but pick a fight with Apple CEO Tim Cook.

Shortly after Cook was quoted as saying of Facebook "we could make a ton of money if we monetized our customer — if our customer was our product," the Zuck fired back saying "I find that argument, that if you’re not paying that somehow we can’t care about you, to be extremely glib and not at all aligned with the truth."

And if there's one thing we know about Zuckerberg, he's a man with the upmost respect for his user base. Then again - Cook's Chinese customers might have a few words to say about not selling out customers to curry favor with a government.

Clinton Trump'd

And finally, but not at all least, an internal Facebook white paper has shown that Donald Trump's US presidential campaign "better leveraged Facebook’s ability to optimize for outcomes" than Hillary Clinton's team. ®

Source - https://prexblog.com/facebook-scandal-mark-zuckerberg-urged-to-quit-facebook-board/

Facebook is gradually losing its pretty "face".

matrix199:
Facebook is gradually losing its pretty "face".

The problem here is that they are trying to fall Facebook....they are jealous of him

They should leave the guy Abeg. We've all made one mistake or the other. You can't be aware of all bugs on your website, it only takes the help of other to discover those.

Quit because of bugs he wasn't aware of...

Leave the guy jor.

What's all this about? Mistakes has no master. Leave him alone.

v

This guy should fvck off without Zuckerberg there would be no facebook

They want to remove him from his position as chairman of a company he founded.

This oyibo people sef...

trying real hard to bring this hard working guy down so bad belle dey everywhere

Bleep you

This is why you should not trust social media with too much of your personal information.

Jealous people everywhere. They just want to see his downfall. This life is a bitchh

Truly there's a risk to our democracy.. You guys should try and download your Facebook data and see what they know about you..

Newsprex:


The problem here is that they are trying to fall Facebook....they are jealous of him

Na wa! you are seeing intelligent analysis, you are talking about jealousy...

Facebook should clean up and come up stronger.

Ok

Jealousy

Newsprex:


The problem here is that they are trying to fall Facebook....they are jealous of him

Jealous of him for releasing personal data's of people illegitimately??

Bad belle.. Is allowed

Earthquake1:
This guy should fvck off without Zuckerberg there would be no facebook

If there's no facebook, there's twitter and if there's no twitter, there will be other social networks better than this two. Remember before FB came to existence, there was Netlog, Waplog & co

Indeed nothing lasts forever.

Gradually FB is coming to a decline. And so would there other services - WhatsApp, Instagram.

It does happen.
Have u seen 'Empire'?
In business, once u commercialise ur firm and others came and bought some shares of the company, u that owns majority of the shares would be the chairman and others stakeholders.
They can use their shares or election/votes to bypass his CEOship.

eleojo23:
They want to remove him from his position as chairman of a company he founded.

This oyibo people sef...

Luukasz:
Jealous of him for releasing personal data's of people illegitimately??

Which he had apologized for...what else?

People are really ignorant
They think zuckerberg owns facebook...
For ur info FB is a CIA spying tool. social media, search engines, high tech gadgets etc are used by the american govt, and her agencies (controlled by the deep state) to gather intelligence and maintain their grip on the globe.
The Chinese know this, that,s why u cant access FB, twitter etc in china. China created its own social media for its people....

As long as u use social media & search engines, as long as u use android and ios, as long as u use gmail & yahoomail, whatsapp etc - THEY KNOW STUFFS ABOUT YOU...
Zuckerberg is just a front (actor), so he may be sacrificed as a scapegoat, while the deep state continues with their business.

They successfully deceived u all
Ha ha ha ha...

okonja:


Which he had apologized for...what else?

Not everybody accepts an apology

Newsprex:


The problem here is that they are trying to fall Facebook....they are jealous of him

true, the loophole have always been there. So why call for zukerberg's head.
Some uni's in the USA embark on research using social media mining. Its not a new thing.