Press Release
Illinois State Treasurer Frerichs Leads Effort Calling on Facebook to Separate CEO and Board Chair to Reduce Investor Risk Amid Controversy
CHICAGO – Facebook’s turmoil, controversy, and governance failures are among the litany of reasons the social media giant needs an independent board chair, Illinois State Treasurer Michael Frerichs said today. Frerichs leads a group of institutional investors who filed a proposal to separate the Chief Executive Officer (CEO) and board chair roles at Facebook, which are held by Mark Zuckerberg. The proposal will go before a vote at Facebook’s 2021 Annual Shareholder Meeting.
