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Mark Zuckerberg Has No Plan To Step Down

In the interview, Zuckerberg said there's no doubt that "we missed something really important" when it came to the Russian interference during the 2016 US election

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Facebook's founder Mark Zuckerberg

Despite mounting pressure from investors to step down as Facebook chairman as the social media firm faces intense scrutiny on data scandals, Mark Zuckerberg has said he has no plans to retire.

In an interview with CNN late on Tuesday, he said this was not the time for him to quit as Facebook shares ended at $132.43 — down 40 per cent from its peak in July.

“That’s not the plan. I’m not going to be doing this forever, but I’m not currently thinking that makes sense,” said the Facebook CEO.

The interview came after the New York Times reported how Mark Zuckerberg and COO Sheryl Sandberg “ignored warning signs” of the Cambridge Analytica scandal and hired a Republican-owned political consulting and PR firm to “dig up dirt” on competitors.

“I do run the company. I am responsible for everything that happens here. I don’t think this point was about a specific PR firm; it’s about how we act,” Mark Zuckerberg said during the interview.

The Times report also suggested that Facebook knew about Russian influence activities on its platform as early as spring 2016.

Facebook hired a firm called Definers Public Affairs to retaliate against or spread inflammatory information about its critics.

Elliot Schrage, Facebook’s outgoing Head of Public Policy, has reportedly taken the blame for hiring the Definers.

In a bid to prevent foreign interference into elections, facebook has also begun labelling all political and issue ads in the us -- including a "paid for by" disclosure from the advertiser at the top of the advertisement.
I have no plan to step down: Zuckerberg.

According to a memo with TechCrunch, Schrage admitted having the company push negative narratives about competitors but denies asking or paying Definers to publish fake news.

Facebook didn’t confirm the memo.

In the interview, Zuckerberg said there’s no doubt that “we missed something really important” when it came to the Russian interference during the 2016 US election.

“It was not something we were expecting. I wish we understood it before 2016, before the Russians tried to do these information operations in the first place,” he added.

Last week, Facebook investors increased pressure on Zuckerberg to step down as Chairman.

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According to a report in The Guardian, Jonas Kron, Senior Vice President at Trillium Asset Management which owns a substantial stake in Facebook, “called on 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.

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. (IANS)

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Mark Zuckerberg, Tim Cook, Sundar Pichai Make their Way to the Top 100 CEOs List

It may be recalled that when Glassdoor first started ranking CEOs back in 2013, Zuckerberg was ranked the number one CEO in the US, with a 99 per cent approval rating

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Facebook's founder and CEO Mark Zuckerberg speaks at the Viva Tech start-up and technology summit in Paris, France, May 24, 2018. VOA

Social media giant Facebook CEO Mark Zuckerberg has dropped from his 2018 rank of number 16 to number 55 on the list of top Chief Executive Officers (CEOs) in the US this year.

A total of 27 CEOs from the tech industry made it to the job and recruiting site Glassdoor’s annual list of CEOs from top companies, news website CNET reported late on Tuesday.

According to the report, Zuckerberg lagged behind Google CEO Sundar Pichai, who also received a 94 per cent CEO approval rating but came in 46th place overall.

On the other hand, the Facebook CEO still managed to came ahead of Apple CEO Tim Cook, whose approval rating was 92 per cent, securing him the 69th spot on the list.

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FILE -Google CEO Sundar Pichai speaks during the keynote address of the Google I/O conference in Mountain View, Calif., May 7, 2019. VOA

However, Cook is one of only two CEOs to remain in the top 100 for all seven years along with Zuckerberg.

Other technology CEOs like Adobe’s Shantanu Narayen and Microsoft’s Satya Nadella bagged the coveted fifth and sixth spots in the list gaining an employee approval rating of 98 per cent each.

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It may be recalled that when Glassdoor first started ranking CEOs back in 2013, Zuckerberg was ranked the number one CEO in the US, with a 99 per cent approval rating. (IANS)