United States

Should Mark Zuckerberg be Facebook's chairman and CEO? Some investors say no

SAN FRANCISCO — Mark Zuckerberg's tight grip on Facebook is under growing scrutiny as investors call for the giant social network to name an independent chairman. Zuckerberg, who faced two days of questioning from Congress last week over the improper handling of 87 million users' personal information, is both CEO and chairman of Facebook and controls 60% of the voting power.  "In essence Mr. Zuckerberg is not accountable to anyone. Not the board, nor the shareholders," Michael W. Frerichs, the state treasurer of Illinois, who oversees investments including college savings for citizens of the state, told the Financial Times. "Right now, Mr. Zuckerberg is his own boss and it’s clearly not working." Frerichs is supporting a proposal from ...