I am all in for dismantling facebook but this is just a rant. Zuck has way more things in favor for him legally. What confuses the hell out of me is that i always saw from childhood US executives are held accountable for their company's action. Any scandal and i would see the CEO step down. The amount of damage the zuck has caused the world and yet still he wont step down. What the actual hell
>What confuses the hell out of me is that i always saw from childhood US executives are held accountable for their company's action. Any scandal and i would see the CEO step down.
You are confusing regular random CEOs who get hired to run a company with someone like Zuck who founded a company and is still closely tied to its identity. Remember the mess after Steve Jobs was forced out of Apple?
That actually has little to do with why "Zuck" is still there, it's because he has special voting rights that make him immovable. Ditto for the Google founders.
Take that away and we'd see the actual truth of his utility to Facebook and its shareholders.
On stepping down or being forced out: Regardless of any other factor, it's because he controls roughly 60% of the voting stock. He has about 18% of the stock, but his class-B shares get 10 votes per share, while normal class-A shares get only 1 vote. So it would take something truly black-swan level to get him out.
What exacerbates this even more is the fact that once sold, Class B shares lose their privileged status and become class A shares. So as employees with B shared gradually leave Facebook for other opportunities, Zuck gains even more power relative to the rest of the voting stock.
