Public pension fund leaders on Tuesday called for separating the chairman and ch...
BOSTON - Public pension fund leaders on Tuesday called for separating the chairman and chief executive officer positions at Facebook Inc, both held by co-founder Mark Zuckerberg, citing a vote that showed strong support for the idea among outside investors in the world’s largest social media company.
In a separate statement, Illinois State Treasurer Michael Frerichs said that “Facebook’s independent investors agree that it’s time for the company to separate the Board Chair and CEO roles. Right now, Mr. Zuckerberg is both Board Chair and CEO, serving as his own boss, and clearly it’s not working.”
Stringer and Frerichs oversee pension funds that hold Facebook shares and were among a group of investors who filed a shareholder resolution calling for Facebook to have an independent chair as a way to improve oversight.
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