Friday, May 11, 2018

A huge pension fund says Facebook is like a ‘dictatorship’ - The Washington Post

Seems like a simple solution: don't buy the stock, if you have issues with the company's governance model

"Yet another major institutional investor is slamming how Facebook is governed, describing it as "akin to a dictatorship" and calling for an end to the way it structures voting power among its shareholders, a system that gives founder and CEO Mark Zuckerberg unusual control over the company and erodes the influence of other investors.

In an op-ed published Thursday morning in the Financial Times, an executive with the country's second-largest pension fund wrote that it is "time to end" the dual-class share structure at companies like Facebook, where special "Class B" shares have 10 times the voting power as regular "Class A" shares."
A huge pension fund says Facebook is like a ‘dictatorship’ - The Washington Post
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