In recent days, troubles in Ozawa have continued, and the brutal event of forced gong that began last year has once again become a hot spot. According to Facebook’s filings with the Securities and Exchange Commission (SEC) on Tuesday, outside investors who account for 31% of Facebook’s shares support a shareholder’s proposal and hope Facebook splits the chairman’s and CEO’s positions.
Zuckerberg is currently in charge of both the chairman of the board of directors and the chief executive of Facebook.
However, some of Facebook’s shareholders believe that the rights are too concentrated and are not conducive to the development of the company and do not meet the interests of shareholders.
As early as February of this year, these shareholders submitted a proposal to Facebook and wanted Zuckerberg to be removed from the board of directors and replaced by other independent individuals.
The proposal wrote: "We believe that both roles are served by the same individual, which will weaken the company's governance quality and will also damage the interests of shareholders."
The cause of Zuckerberg's conflict with these shareholders goes back to the time when Facebook listed in 2012, when Zuckerberg chose a two-tier equity structure and the company issued A and B stocks.
The so-called A-level stocks are ordinary circulating shares, while the B-level stocks are the same as A-level stocks in economic rights. However, on the right to vote, a Class B vote is equivalent to Class A ten votes. The two-tiered shareholding structure ensures that Zuckerberg and other founders can have absolute control in the shareholders' meeting when the equity is diluted.
In the current Facebook equity structure, Zuckerberg has 24% of the company's shares, but has 56.9% of the voting rights.
For a company with a board of directors to have absolute control of the company, it also needs to occupy a majority seat in the board of directors. Since shareholders cannot challenge Zuckerberg in equity, Zuckerberg can only be withdrawn from the board and challenge Zuckerberg's control of the company from another perspective.
Front Terminal Lead Acid Battery
Front End Terminal Battery,High Performance Battery,Fit 23-Inch Rack Battery,Fit 19-Inch Cabinet Battery
Wolong Electric Group Zhejiang Dengta Power Source Co.,Ltd , https://www.wldtbattery.com