Facebook board proposes Zuckerberg succession plan

Facebook’s board has proposed removing Mark Zuckerberg’s majority voting control in the event of the social media giant’s chief executive and founder deciding to exit management at some point in the future.

“These new terms thus ensure that we will not remain a founder-controlled company after we cease to be a founder-led company,” the board said in the filing.

The board asked shareholders to vote on the plan at Facebook's June 20 annual meeting.

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