Thursday, November 01, 2018

How Mark Zuckerberg Became Too Big to Fail | NYT

Final paragraphs from a timely Facebook reality check; on a related note, see Facebook Could Be Unrecognizable by 2020 | The Atlantic
"One fix for Facebook might be to give the board greater power over the company. Trillium Asset Management, an investment firm, recently put forward a shareholder resolution supported by several state funds that would require Mr. Zuckerberg to step down as Facebook’s chairman, though he would still maintain majority voting control of the company.

“I think by taking the step to relinquish the position of the board chair, it’s a very important structural change so that he would not have a completely free hand to muscle his way through decisions,” said Jonas Kron, a Trillium senior vice president.

A Facebook spokesman said the company had not yet taken a position on the resolution. In the past, similar measures have been voted down by Mr. Zuckerberg and his allies.

Which leaves us here: Either Mr. Zuckerberg fixes Facebook, or no one does. That’s the choice we face, like it or not."
How Mark Zuckerberg Became Too Big to Fail | NYT

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