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April 27, 2020updated 30 Sep 2022 9:13am

Ad market abuse concerns cited by shareholders launching bid to oust Mark Zuckerberg as Facebook chairman

By William Turvill

A group of Facebook investors is seeking to remove Mark Zuckerberg as chairman, citing several controversies facing the tech giant, including its dominance in certain markets.

The motion, which will be voted on by shareholders at the firm’s annual general meeting next month, is for Facebook to take on a new independent chairman to oversee Zuckerberg’s performance as chief executive.

In a letter to their fellow shareholders last week, those pushing the motion noted that the company has been “rife with controversies that have harmed investors” in recent years. They cited accusations of “anti-trust violations”, which include concerns about Facebook and Google’s dominance of the online advertising market.

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