Facebook founder Mark Zuckerberg is likely to face a vote calling for him to step down as the company’s chairman at its annual general meeting (AGM) today (Thursday).
Zuckerberg is both the company’s chief executive and chair of the board, and some shareholders believe resigning as chairman would allow him to fully focus on running the company.
With 60% of the voting power, Mr Zuckerberg is highly unlikely to lose but it could put significant pressure on him to step down regardless.
Jonas Kron, senior vice-president at Trillium Asset Management, which owns £5.5 million worth of Facebook shares, said: “He’s holding down two full-time jobs in one of the most high-profile companies in the world right now. And if he can focus on being the CEO, and let somebody else focus on being independent board chair, that would be a much better situation.
“He has examples in Larry Page and Alphabet, Bill Gates and Microsoft, of what it can look like for a founder not to be the chairman of the board.
“I realise that it may not be an easy step to take, but it’s an important step that would be to his benefit and to his shareholders’ benefit.”