Facebook says all directors elected, shareholder proposals rejected

By: | Published: June 1, 2018 3:42 AM

Zuckerberg at the meeting outlined changes it plans in response such as verifying the identity of advertising and increasing security spending.

All eight of Facebook Inc’s director nominees were elected at its annual meeting on Thursday, and all six shareholder proposals urging reforms, including to its voting structure and content oversight, were rejected, company executives said. (Reuters)

All eight of Facebook Inc’s director nominees were elected at its annual meeting on Thursday, and all six shareholder proposals urging reforms, including to its voting structure and content oversight, were rejected, company executives said. They did not immediately give vote tallies at the annual meeting in Menlo Park, California, which was webcast. That left unclear to what extent outside investors cast ballots in favor of the company and Chief Executive Mark Zuckerberg, who with other insiders controls about 60 percent of votes at the world’s largest social media network. Facebook has been under scrutiny from regulators and shareholders about its internal controls and oversight after it failed to protect the data of some 87 million users that was shared with now-defunct political data firm Cambridge Analytica. Zuckerberg at the meeting outlined changes it plans in response such as verifying the identity of advertising and increasing security spending.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition