Will Mark Zuckerberg Step Down From The Board At Facebook? Here's The Answer

Dhir Acharya - Dec 29, 2018

Facebook has finally given the answer to a widely asked question recently.

Every time a company falls into intense scrutiny of the public, people tend to guess how the company’s fate will be decided. In the case of Facebook, everything started when Kenneth Chenault, former CEO of American Express, joined the board of Facebook in January. If you have followed the news for a while now, you’d probably know Chenault came just before the Cambridge Analytica scandal burst out. After that, Mark Zuckerberg, the company’s CEO had to testify on Capitol Hill, followed by massive hack affecting 29 million users as well as a bombshell reported by the New York Times.

In the raging storm of scandals, many parties including analysts, investors, and tech pundits started to questions if Zuckerberg’s position at Facebook is going to change. Via press calls, reporters began raising questions to Zuckerberg about the possibilities of his resignation from Facebook’s chairman or even CEO. Until now, he has refused to.

In addition, earlier December, over 30 civil right groups wrote a letter demanding Zuck to step down from the board at Facebook as well as calling for a restructuring of the board.

Then, this week, Procter & Gamble and IBM both announced that Chenault has a plan to resign from Facebook’s boards, making watchers wonder if he will take over the role of Facebook chairman.

The answer is No.

Facebook said Chenault will continue his role on its board as well as maintain the same capacity.

So, bottom lines, Mark Zuckerberg will still be the chairman and CEO of Facebook.