News for hackers. Stuff that matters.

A comment on Powerless investors vote overwhelmingly to oust Mark Zuckerberg as chairman. Parent comment

Re:Powerless investors vote overwhelmingly to oust Mark Zuck... by tomp on Wednesday June 05, 2019 @04:37AM (#20102503)
> A CEO has a fiduciary duty to the shareholders - The CEO is supposed to act in a way he believes benefits the shareholders.

To the shareholders or to the majority of the shareholders? If the latter, he can literally do whatever he wants (as he's the majority shareholder).

[ Parent | on HN ]
Re:Powerless investors vote overwhelmingly to oust Mark Zuck... by Waterluvian on Wednesday June 05, 2019 @07:59AM (#20103469)
I don't think that's true. I think he holds fewer than 50% shares. He holds greater than 50% votes.
[ Parent | on HN ]