Now Facebook shareholders slam Zuckerberg over voting shares
San Francisco, June 1: After facing the flak from different quarters including governments around the world over the Cambridge Analytica data leak scandal, Facebook CEO Mark Zuckerberg has now faced angry shareholders for unequal voting shares, the media reported.
At the company's annual meeting on Thursday, activist investors had forced votes on six proposals to change the company's governance or institute other reforms, the Guardian reported.
But thanks to the company's unequal voting structure, Zuckerberg and his board of directors escaped the election unscathed.
The event, however, provided a platform for crticising the leadership of Zuckerberg and his board of directors.
One of the attendees in the meeting, Christine Jantz of Northstar Asset Management,
Advertisement talked in favour of a proposal to reform Facebook's stockholder voting structure.
Under the company's current structure, Zuckerberg controls the majority of voting shares despite not owning a majority of the company.
This is because his shares have 10 times the voting power of the shares available to regular investors.
Problems like the Cambridge Analytica scandal were the results of that structure, according to Jantz.
He called it an "egregious example of when a board is formed by a CEO to meet his needs" rather than those of investors.
James McRitchie, a shareholder activist, termed the current voting structure a "corporate dictatorship".
"Mr Zuckerberg, take a page from history," he was quoted as saying.
"Emulate George Washington, not Vladimir Putin," he added.
The meeting also discussed the company's various initiatives to increase advertising transparency, improve content moderation, and prevent interference in elections, the report said.
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Anti-communal force may be extended to other districts: Karnataka Home Minister G Parameshwara
Bengaluru, May 14 (PTI): Karnataka Home Minister G Parameshwara on Wednesday said that the anti-communal force that was announced, aimed at tackling communal disturbances and crimes in the coastal districts, may be extended to other districts in the state.
He also said that incidents of moral policing which are communal in nature will also be entrusted to the anti-communal force.
The Home Minister, earlier this month had announced that the anti-communal force, on the lines of the Anti-Naxal Force (ANF), will be established to address and mitigate communal disturbances in Dakshina Kannada and Udupi districts.
"In the government, we have taken a decision to constitute an anti-communal force within the police department. Earlier when the Naxal activities were there we have created an anti-Naxal force, on the same lines we want to create an anti-communal force, just to see that the society is peaceful," Parameshwara said.
Speaking to reporters here, he said, polarisation is already taking place here and there, and the government wants to ensure that all those things are put to rest.
"I had asked the Director General of Police to send a proposal in this regard, and I'm told that they have sent the proposal. We will examine it and approve at the government level. Initially I have announced it for two districts, now we may extend it to any districts where there are communal issues," he added.
Responding to a question whether moral policing will also be referred to anti-communal force, the Home Minister said, incidents of moral policing which are communal in nature, will naturally attract action by anti-communal force.
"If it (moral policing) is just a social problem, regular police will look into it. If it is communal in nature or ends up in communal issues then we will definitely entrust it to anti-communal force," he added.
Parameshwara had earlier said that a senior officer of the rank of Inspector General of Police (IGP) or above will be entrusted with the leadership and supervision of this anti-communal force.
He has also said that the personnel from the ANF, which is being tapered down following the decline in the Maoist activity in the State, along with other police personnel, would be part of the anti-communal force, and they will function in close coordination with the local law enforcement agencies.
