Tuesday, April 20, 2021
Home Lead Story Facebook Investors Increase Pressure on CEO Mark Zuckerberg To Step Down

Facebook Investors Increase Pressure on CEO Mark Zuckerberg To Step Down

Facebook has also refuted allegation that it knew about Russian activity as early as the spring of 2016 but was slow to investigate it at every turn

Facebook investors have increased pressure on Chairman and CEO Mark Zuckerberg to step down after a New York Times investigation suggested that the social network hired a Republican-owned political consulting and PR firm that “dug up dirt on its competitors”.

According to a report in The Guardian on Saturday, Jonas Kron, Senior Vice President at Trillium Asset Management which owns a substantial stake in Facebook, “called on Mark Zuckerberg to step down as board chairman in the wake of the report”.

“Facebook is behaving like it’s a special snowflake. It’s not. It is a company and companies need to have a separation of chair and CEO,” Kron was quoted as saying.

The New York Times report suggested that Facebook hired Definers Public Affairs, a Washington, D.C.-based conservative firm which did PR work for the social networking giant “and dug up dirt on the company’s competitors and its critics”.

In a press call, Zuckerberg denied he had any prior knowledge about this firm.

Facebook
Facebook App on a smartphone device. (VOA)

“After reading the article, I got on the phone with our team and we are no longer working with this firm,” he said.

Definers allegedly “encouraged the depiction of Facebook’s critics as anti-Semites and had published news articles criticising Facebook’s competitors”.

Another Facebook investor Natasha Lamb from Arjuna Capital said the combined role of chairman and chief executive means that “Facebook can avoid properly fixing problems inside the company”, said the report.

According to TechCrunch, founded by a Republican campaign manager known for his dirt-digging prowess, Definers is far from a normal, politically neutral contractor.

In a statement, Facebook COO Sheryl Sandberg also denied any knowledge of the firm.

Mark Zuckerberg
Mark Zuckerberg. Flickr

Facebook said that it used the consultant Definers Public Affairs to look into the funding of “Freedom from Facebook” to demonstrate that it was not simply a spontaneous grassroots campaign, as it claimed, “but supported by a well-known critic of our company,” presumably liberal financier George Soros.

“To suggest that this was an anti-Semitic attack is reprehensible and untrue,” the company added.

Also Read- Xiaomi Drops Down Smartphone Prices in India

Facebook has also refuted allegation that it knew about Russian activity as early as the spring of 2016 but was slow to investigate it at every turn.

As fallout of the report, Facebook stocks fell 3 per cent on Friday to $139.53, the lowest since April 2017. (IANS)

STAY CONNECTED

19,517FansLike
362FollowersFollow
1,773FollowersFollow

Most Popular

Nanking Massacre: The Holocaust

By- Khushi Bisht The Nanking Massacre, also known as the Rape of Nanking, was one of the worst massacres committed during the Sino-Japanese war that...

‘Child Of Two Worlds’ Featuring The Protagonists And Immortal Lovers

Turkey-based author Ann D'Silva has launched her new book "Child of Two Worlds", which is second in the fictional 'Sand and Sea' series, which...

Now Transfer Posts And Notes To Google Docs And WordPress Directly

Facebook on Monday introducing two new data portability types that will help users directly transfer their posts and notes to Google Documents, Blogger, and...

Lyricist Mehboob: The Line Between Film Music And Indie Music Has Blurred Lately

The line between film music and indie music has blurred lately, feels noted lyricist Mehboob, who has over 25 years of experience in the...

OTT Projects Based On Books

With OTT platforms experimenting with genres and content, there are a host of projects that are based on books. Lately, we have already had...

Something Screened On Your Phone Can Not Erase A Huge Screen, Says Boman Irani

Good writing is the need of the hour, feels actor Boman Irani, to sustain audience interest at a time when OTT provides a surfeit...

The Truth Behind Why Airliners Don’t Fly Over Tibet

BY- JAYA CHOUDHARY Airplanes can fly for thousands of kilometers across the globe. Rockets have landed men on the moon and Elon Musk plans to...

Symptoms Affecting Daily Life Post Covid Recovery

Are you a Covid-19 survivor, but still feel fatigued and not having fully recovered? You may be experiencing what is known as "Long Covid"....

Recent Comments