Tell BlackRock: Vote NO on Mark Zuckerberg

Facebook has become a poster child for unaccountable corporate leadership. The company has faced worldwide investigations and billions in fines as its platform has been used to spread misinformation, undermine democracy, marginalize the voices of vulnerable communities, and empower hate groups.

Facebook’s negligence in addressing these issues threatens the future of the company and the investment of its shareholders. Facebook has failed to offer any comprehensive accounting of its scandals and the failures of leadership that led to them. With no clear sign that Facebook’s leadership is taking real action to understand these failures and make necessary changes, there has been unnecessarily high volatility in the company’s stock price and risk for long-term shareholders.

At the root of these problems is Mark Zuckerberg's concentration of power. Zuckerberg has insisted on serving as both CEO and chair, and has failed to set up adequate independent governing structures, preventing critically-needed accountability at the company. The time has come for change.

In 2018, 35% of independent investors voted against Zuckerberg as chair, including the major investment fund Vanguard. But BlackRock -- one of the biggest investment funds, and one of Facebook’s biggest shareholders -- has so far continue to support Zuckerberg.

Will you join us in calling on BlackRock to vote against Mark Zuckerberg as chair of Facebook?

Read more

Sign the petition

Below is the letter we will send to Laurence Fink, CEO of BlackRock:

Facebook has become a poster child for unaccountable corporate leadership. In the last few years, the company has faced billions of dollars in fines and worldwide investigations, as its platform has been used to undermine the functioning of our democracy and others, while also being used to further marginalize the voices of vulnerable communities.

This harm extends to shareholders. Beyond the dramatic fall in value in 2018, Facebook has offered no comprehensive accounting of its unending scandals and the governance failures that facilitated them, resulting in unnecessarily high volatility and risk for long-term shareholders.

At the root of these problems is Mark Zuckerberg's concentration of power. Zuckerberg has insisted on serving as both CEO and chair, has failed to set up adequate independent governing structures, and retains outsized voting rights—all of which prevent critically-needed accountability at the company. The time has come for change.

In 2018, 35% of independent investors voted against Zuckerberg as chair, including Vanguard. Yet BlackRock failed to do so. Now you have an opportunity to course-correct.

As a supporter of good governance and responsible stewardship, I am asking that you vote NO on Mark Zuckerberg continuing as chair.

Sincerely,

[your name]

    Not ? Click here.