I wonder if Zuckerberg's job is in jeopardy at this point? I didn't think Uber was going to be able to shed their CEO, but after months negative articles about Uber, Travis lost his job, and I believe he controlled the voting shares also. Seems like FB is going through the same thing now (except there have been no sexual harassment complaints)
Can any lawyers or investors comment on what it would take for Mark to lose his job as CEO? How much value has to be shaved off facebook shares before investors loss all confidence ?
My suspicioun is that while Travis did have voting control they also needed financing and I think that was used as key leverage in the situation. It is possible that the investors had blocking rights on certain investments or that they went to SoftBank to force the issue which was using a possible investment in Lyft as a forcing function.
He first needs to believe in the need to replace himself. Or something easier, yet a permanent solution: He could have completely abolished the CEO position, require board meetings for all executive decisions and require supermajority for all essential board decisions.
Weirder things have happened. He could hire someone else to run Facebook and retain the voting control he has. Or at least to be the face of the company as he is and how Google's founders have made their CEOs do the work of showing up in front of congress and etc.
Zuck might be a prick but all of FB's business relies on user's data. Even if he was to be replaced I can't see how FB could follow a different business plan. Their money comes from advertising and advertisers flock to it because they can target groups of individuals by choosing demographics in a way that no one else offers. If you remove that part from the equation FB's revenue would collapse.
Zuck isn't the problem, the whole fucking service is the problem.
He could be sued out of excess (exceeding his proportion of shares) voting rights by beneficiary action. This is a public company, remember your fiduciary and beneficiary rights.
Can any lawyers or investors comment on what it would take for Mark to lose his job as CEO? How much value has to be shaved off facebook shares before investors loss all confidence ?