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Facebook has always had an absolute leader cemented by a stock clbad structure that retained control of Mark Zuckerberg 's voices even when he sold millions of dollars. actions .
Some investors complained, but most of them just kept quiet while the stock went up. The collapse of this week disrupted this dynamic and multiplied the demands for changes at the top .
"This is never a problem until things are going well," said Brian Wieser, an badyst at Pivotal Research Group. He believes a change in Facebook's conduct is inevitable and said the latest figures could speed up the process. "It is very difficult to imagine that the status quo is maintained." A Facebook spokesperson declined to comment.
Thursday, Facebook fell 20%, which cost investors $ 120 billion-l to the biggest drop of a day in a part of history -. Shareholders who had endured months of renewed debate about Facebook's role in the company and the ethics of their business model suddenly fled when they realized that growth had ended in the application Profitable base of Facebook.
Growth rates will fall "high single-digit percentages" in each of the next two quarters, said Finance Director David Wehner.
The loss of confidence encouraged voices that demanded that Zuckerberg share more of his voting power and give up his position as chairman of the board to a more independent figure.
"Zuckerberg only responds to Zuckerberg," said Jonas Kron, Trillium Asset Management 's director of shareholder defense, who last year supported a shareholder proposal to replace Zuckerberg as chairman of the board. company ]
Since the sales surge on Thursday, it has received more phone calls and emails from other investors who have expressed their support. He refused to reveal the identity of these people.
For over a year, Facebook and other social media companies are under fire from authorities and regulators for allowing false news, trolls and manipulators Russians who are supposed to proliferate in their services.
Now that they take drastic measures, which wreak havoc on growth, frighten investors . Authentic accounts and truthful information could be beneficial for longer-term activities. But Kron said that Facebook could have avoided some of the problems if Zuckerberg's power was limited by an independent president .
Zuckerberg has too much power said Calvert Research and Management Director John Streur. This year, he was concerned about Facebook's focus on privacy and customer data. In April, when he realized that getting involved in the business would not change much, his fund sold Facebook shares.
"Facebook's governance structure is still below industry standards, with much of the authority focused on the founder and CEO," said Streur.
"Shareholder rights are not well respected, controls over executive compensation are limited and concerns have been raised about the effectiveness of risk monitoring, including privacy risks and security "he said.
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