Facebook is in a sandquick of crisis. A proposal have been submitted by majority of Facebook Shareholders calling Mark Zuckerberg to step down as the CEO of company’s Board. The proposal is being called symbolic since the total vote control is still under Zuckerberg, giving board structure a sense of dictatorship. The First removal proposal was filed in April to remove him before his testimony about Cambridge Analytica misuse of Facebook users data.
Since the disappointing July report of Second quarter earning, the Trillium Asset and the state treasure of Rhode Island, Illinois,and Pennsylvania wants to remove the chairman of Facebook. The proposal was filed by the New York City Pension Funds, Illinois state treasurer Michael Frerichs, Rhode Island state treasurer Seth Magaziner, Pennsylvania treasurer Joe Torsella, and Trillium Asset Management.
The proposal has its worth as the investors are involved. The voting for proposal will be held next year at Facebook’s shareholder meeting.
Lately, Facebook privacy setting/systems is being attacked. The investigations revealed that the recent hack of 29 million users was carried by spammers with intention of financial gain rather than political or ideological purposes. Theses hackers had access to 15 million users details (phone numbers and details)
Since the motive was just financial only a specific category of data was illegally download as compared to information they had access to. The “view as” feature in profile vulnerability was exploited for this purpose.
Whereas, a study carried out on 1,297 adults in America discovered that 50.4 users of Facebook and Whatsapp were not aware that both of them was owned by same company i.e. Facebook. As a result trusting whatsapp more regarding privacy.