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Mark Zuckerberg seems increasingly alone at the top of Facebook Inc., with executives streaming out the doors as he promises a new direction that seems antithetical to all he has said about the company’s plans for years...
There have been some significant high-level departures that have raised a lot of concerns.
A Negative Network Effect suggests that departures will continue, and since we believe that people are a key competitive advantage of FAANG companies, this implies accelerating value destruction until senior executive turnover ends.
The manifesto leaves FB's business model unchanged. That is not acceptable.
The goal is to give investors the opportunity to express an opinion about whether an independent board chair is a good idea or not and to give the board that information.