National Post (Latest Edition)
FACEBOOK SAYS SHAREHOLDER PROPOSALS REJECTED
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, Calif., which was webcast. That left unclear to what extent outside investors cast ballots in favour of the company and chief executive Mark Zuckerberg, who with other insiders controls about 60 per cent 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.