Mark Zuckerberg might lose his seat at Facebook

Intro

The founder of one of the most popular social media application, Facebook, Mark Zuckerberg could lose his position as its chairman after four major backers backed a plan to remove him.

The move comes after several high-profile scandals and said they hoped to gain backing from larger asset managers. State treasurers from Illinois, Rhode Island and Pennsylvania, and New York City Comptroller Scott Stringer, co-filed the proposal.

They oversee money including pension funds and joined activist and original filer Trillium Asset Management.

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