Facebook Inc (FB) Shareholders Are Working To Remove Mark Zuckerberg from Board of the Directors

An active group of Facebook Inc (NASDAQ:FB) shareholders are working to seek the removal of company CEO, c from the board of the directors. Social Media is under pressure to do so, as a proposal has been already put forward, claiming that an independent chairperson would be a better choice to improve corporate governance, and the one who is able to “oversee the executives of the company, and set a more accountable, pro-shareholder agenda.”

The Facebook shareholders, who are also the members of the consumer watchdog group SumOfUs actually came up, with the idea for Zuckerberg’s board ousting. SumOfUs organization bills itself as an online community, who campaigns to hold the corporations accountable on a wide range of issues such as workers’ rights, climate change, human rights, discrimination, corruption, and corporate power grab.

At the movement Facebook Inc (NASDAQ:FB) is under coverage by number of analysts. Buy rating has been given by 23 analysts to the company stock whereas 1 analyst given UNDERPERFORM rating to stock and 3 analysts given HOLD rating. The consensus recommendation by Thomson Reuters analysts is Outperform and their mean rating for the stock is 1.63 on scale of 1-5. Analysts mean target price for Facebook Inc (NASDAQ:FB) is $153.72 while their mean recommendation is 1.70 (1=Buy, 5=sell).

Lisa Lindsley, the capital markets advisor for SumOfUs, told VentureBeat that 333,000 people signed the petition requesting Facebook improve its corporate citizenship, but 1,500 were actual shareholders in the company. “The shares held by four individual SumOfUs members enabled us to file this proposal,” she said.

If we look at stock performance in last active day trading, we see that stock has moved up 0.82% to end the day at $132.06. Company price to earnings (P/E) ratio, which measures the relationship between the earnings of a company and its stock price, is calculated as 40.52. The current share price indicate that stock is -2.53% away from its one year high and is moving 36.40% ahead of its 52-week low.

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