billion after the company was reported weaker-than-expected
second-quarter results and issued guidance that its financial future
isn’t as rosy as some investors thought it might be.
However, set against this backdrop, one activist investor wants
Zuckerberg out as the firm’s chairman. You could imagine what that could
do to the company.
Zuckerberg recently
sparked outrage when he described Facebook’s handling of content from
Holocaust deniers on the social network. He subsequently backtracked on
his comments.
Fake news remains an ongoing struggle for the
social media giant. Earlier this week, the company was slammed by the
parents of a Sandy Hook massacre victim for the hoax claims that
emergedon the platform.
Facebook has also been sucked into the probe into alleged Russian meddling in the 2016 presidential election.
The
extent of the fallout from the Cambridge Analytica scandal and the new
European privacy law, known as General Data Protection Regulation
(GDPR), is not yet clear. In the U.S. and Canada, Facebook’s daily
active users remained flat sequentially at 185 million, while the number
actually fell in Europe, falling to 279 million, down from 282 million.
Citing
the company’s “mishandling” of a number of crises, one activist
investor has filed a proposal that Zuckerberg be removed as the
company’s chairman, Fortune reports.
Facebook has been firmly in
the spotlight in the wake of the Cambridge Analytica data sharing
scandal and has also come under intense scrutiny thanks to the
proliferation of fake news on the platform, something Zuckerberg
apologized for.
“We have a responsibility to protect your data, and if we can’t then we don’t deserve to serve you.”
