March 27, 2019

Facebook CEO, Mark Zuckerberg, Ignores Call To Step Down

Facebook CEO, Mark Zuckerberg, Ignores Call To Step Down

BUSINESS – As calls continue to grow for Zuckerberg to step down, the Facebook CEO is pushing back. Sheryl Sandberg, Facebook Chief Operating Officer, who has also come under criticism is being protected by Zuckerberg.

In the CNN interview, Zuckerberg said stepping down as chairman in the near term is “not the plan”. This came after some shareholders proposed to push him out of that role following a string of management missteps. He believes it is not in the best interest of Facebook, and does not benefit the company.

He and Sandberg have come under fire for Facebook’s slow response to uncovering evidence of Russian manipulation. The expectation during the U.S. presidential race in 2016 was to stop the spread of misinformation on the platform. They have also faced scrutiny for Facebook’s privacy practices and its role in inflaming violence in countries like Myanmar.

According to Facebook’s latest proxy, his share of the voting power among Facebook investors was 59.9%, meaning shareholders can’t force him out.

Zuckerberg called Sandberg an important partner who is overseeing Facebook’s efforts to tackle some of the biggest problems the company is facing. He said, “I hope that we work together for decades more to come.” The Wall Street Journal reported on Sunday that Zuckerberg has strained relations with Sandberg in recent months as he has adopted a tougher, more assertive management style.

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