Posted On: 06/03/2016 11:13:25 AM
Post# of 72446
So why would someone who is seeking to build a multi billion $ company need to chose a BOD carefully to avoid losing control of their company?
"Facebook board seeks curb in Zuckerberg control
Jun. 3, 2016 2:12 AM • SA Editor Yoel Minkoff
Facebook (NASDAQ:FB) isn't expecting Mark Zuckerberg to leave anytime soon, but if he ever does, the company wants to make sure the next CEO it hires would neither be bound to the website co-founder nor his family.
As a result, the board has proposed removing Zuckerberg's majority control by converting his equity into a new class of non-voting shares, along with a "sunset" provision affecting the stock.
The changes will be voted on at Facebook's annual general meeting on June 20.
Looking kind of like a mutiny.
"Facebook board seeks curb in Zuckerberg control
Jun. 3, 2016 2:12 AM • SA Editor Yoel Minkoff
Facebook (NASDAQ:FB) isn't expecting Mark Zuckerberg to leave anytime soon, but if he ever does, the company wants to make sure the next CEO it hires would neither be bound to the website co-founder nor his family.
As a result, the board has proposed removing Zuckerberg's majority control by converting his equity into a new class of non-voting shares, along with a "sunset" provision affecting the stock.
The changes will be voted on at Facebook's annual general meeting on June 20.
Looking kind of like a mutiny.
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