Fb killed hypothesis that it's about to switch Mark Zuckerberg as chairman

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Kenneth Chenault and Mark Zuckerberg

  • Fb has killed hypothesis that Kenneth Chenault is about to change into its first unbiased chairman.
  • Chenault, the previous CEO of American Categorical, sparked the rumors after stepping down from the boards of IBM and Procter & Gamble, whereas retaining his board position at Fb.
  • Fb declined to remark initially, however later mentioned he’ll serve the board within the “similar capability.”
  • It comes amid big strain from unbiased Fb shareholders for the corporate to interrupt up Mark Zuckerberg’s twin position as CEO and chairman.

Fb has killed hypothesis that it’s about to fireside Mark Zuckerberg as chairman and exchange him with US enterprise grandee, Kenneth Chenault.

Chenault, the previous chairman and CEO of American Categorical, stepped down from board positions at IBM and Procter & Gamble on Thursday, however retained his director position at Fb.

The timing of the occasions, and the truth that Fb is now Chenault’s solely posting at a serious US firm, sparked hypothesis that he may very well be about to be put in as Fb’s chairman.

Learn extra: Mark Zuckerberg’s spectacular failure of management reveals why some Fb traders are determined to fireside him

It comes amid big strain from unbiased Fb shareholders, some with stakes value billions, for the corporate to interrupt up Zuckerberg’s twin position as CEO and chairman.

Buyers imagine it will assist make Zuckerberg extra accountable, following a disastrous 12 months for the agency, which has been blighted by scandals together with the enormous Cambridge Analytica knowledge breach.

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Initially, Fb did little to extinguish hypothesis that Chenault will change into the agency’s first unbiased chairman by declining to touch upon the matter. However later, the corporate stopped the rumors of their tracks.

A spokeswoman instructed reporters: “Ken will proceed to serve on our board in the identical capability.” Enterprise Insider has contacted Fb for remark.

Chenault joined the Fb board in January this 12 months. On the time of his appointment, Zuckerberg mentioned he had been attempting to recruit him for years, including that Fb might be taught a lot from his customer support experience and expertise in “constructing a trusted model.”

SEE ALSO: These traders management $three billion of Fb inventory — and so they need to take Zuckerberg down

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