Facebook shareholders try to fire Mark Zuckerberg as chairman because of the 'mishandling' of recent privacy and election meddling scandals
Investment company Trillium Asset Management filed a proposal on Wednesday to oust Mark Zuckerberg as chairman of Facebook
The investors want to break up Zuckerberg's role as both chairman and CEO
Proposal argues that shareholders are unable to check Zuckerberg's power given he holds roughly 60 percent of Facebook's voting shares
They say having him as both weakens the board's oversight of management
Investors argue that the oversight has contributed to Facebook 'mishandling' recent controversies, including Cambridge Analytica and election meddling
It came just hours after Facebook shares went into a freefall on Wednesday, wiping out an estimated $150 billion in market value
Zuckerberg also took a hit with him losing nearly $20 billion in just two hours
By Emily Crane and Annie Palmer For Dailymail.com
Published: 09:32 EDT, 26 July 2018 | Updated: 11:04 EDT, 26 July 2018
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http://www.dailymail.co.uk/news/article-5995211/Facebook-shareholders-try-fire-Mark-Zuckerberg-chairman.html
