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Investment company Trillium Asset Management, who has about $11 million in Facebook stock, filed a proposal on Wednesday to break up Zuckerberg's role as both chairman and CEO, Business Insider reports.
The proposal argues that shareholders are unable to check Zuckerberg's power given he holds roughly 60 percent of Facebook's voting shares as both chair and CEO.
'A CEO who also serves as chair can exert excessive influence on the board and its agenda, weakening the board's oversight of management,' the proposal states.
'Separating the chair and CEO positions reduces this conflict, and an independent chair provides the clearest separation of power between the CEO and the rest of the board.