Tags: facebook | directors | shareholder | proposals

Facebook: All Directors Elected, Shareholder Proposals Rejected

Facebook: All Directors Elected, Shareholder Proposals Rejected
(Bantuquka/Dreamstime)

Thursday, 31 May 2018 03:43 PM

All eight of Facebook Inc.'s director nominees were elected at its annual meeting on Thursday, and all six shareholder proposals urging reforms, including to its voting structure and content oversight, were rejected, company executives said.

They did not immediately give vote tallies at the annual meeting in Menlo Park, California, which was webcast.

That left unclear to what extent outside investors cast ballots in favor of the company and Chief Executive Mark Zuckerberg, who with other insiders controls about 60 percent of votes at the world's largest social media network.

Facebook (FB) has been under scrutiny from regulators and shareholders about its internal controls and oversight after it failed to protect the data of some 87 million users that was shared with now-defunct political data firm Cambridge Analytica.

Zuckerberg at the meeting outlined changes it plans in response such as verifying the identity of advertising and increasing security spending.

© 2019 Thomson/Reuters. All rights reserved.

   
1Like our page
2Share
StreetTalk
All eight of Facebook's director nominees were elected at its annual meeting on Thursday, and all six shareholder proposals urging reforms, including to its voting structure and content oversight, were rejected, company executives said.
facebook, directors, shareholder, proposals
149
2018-43-31
Thursday, 31 May 2018 03:43 PM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved