INTERNATIONAL - Many companies and an official who oversees investments for New York City's pension funds have called for Mark Zuckerberg to step down.
“Mark Zuckerberg’s prepared testimony highlights a simple fact: He doesn’t understand how a large, global and publicly-held company is run,” Open MIC CEO Michael Connor said in a statement.
Previously, Open MIC called for Facebook investors to ensure more responsible behaviour from the company. However, Open MIC does not have shares in Facebook.
“He currently has two jobs at Facebook, CEO, and Chairman of the Board. It’s time for him to give up at least one, if not both, titles.”
“It is long past time for Facebook to separate the roles of company CEO and Chairman,” Connor continued, “and for Mark Zuckerberg to resign or be fired.”
Earlier this year, the group coordinated requests for a shareholder report on election interference and other platform challenges.
Open MIC isn’t the only group bringing pressure on Zuckerberg.
Last week, New York City Comptroller Scott Stringer called for similar changes in Facebook’s board structure on behalf of the city’s municipal pension fund, which is a significant investor in the company.
Stringer cited recent declines in the company stock as a result of irresponsible behaviour.
The company’s stock has declined nearly 15% since the Cambridge Analytica scandal came to light.
“We think there needs to be more board oversight,” Stringer said. “We think there needs to be an independent chairman of the board.”
Additionally, The San Francisco Chronicle also called on Zuckerberg to resign.
The Facebook founder has adamantly resisted any calls to give up control of the company.
In an interview with the Atlantic, Zuckerberg said that he had not considered resigning because he’s “very confident that we’re gonna be able to work through these issues.”
- BUSINESS REPORT ONLINE