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Facebook shareholders back proposal to remove Zuckerberg as chairman

A group of Facebook shareholders has proposed that the company’s CEO Mark Zuckerberg be removed as Chairman and be replaced by an independent executive, as per SEC filings. They said Zuckerberg holds about 60% of Facebook’s voting shares, leaving the board with limited ability to check his power, which weakens the company’s governance. “Implementing the proposal is unnecessary,” Facebook said.

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