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Facebook invited the shareholders to deprive Zuckerberg’s controlling shares

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Facebook invited the shareholders to deprive Zuckerberg’s controlling shares.

The Board of Directors of Facebook intends to deprive Mark Zuckerberg’s controlling stake in the company in case he will leave the post of CEO, according to materials filed with the securities and exchange Commission of the United States.

Body recommended to shareholders to approve the conversion belonging to Mark Zuckerberg shares class A shares class b

Zuckerberg owns 4 million shares of class A and 419 million shares of class B. the class B Securities not traded on an exchange, each equivalent to 10 votes, shares And traded on the stock exchange and equal to 1 vote. These papers generally allow Zuckerberg to control 53.8% of the votes. As co-founder Dustin moskovitz gave the CEO of the social network the right to vote its shares, the voting share of Mr Zuckerberg is about 60%.