Can Zuck get fired?

Uber kisht
Dec 19, 2018 31 Comments

A country's president can get impeached if there are a series of proofs of wrongdoings. It's a long and arduous process but can be finished in 4 years tenure. (We might even see one this time around).

Does such a process exist for repeated ethics and privacy violations for a company's CEO who is also the majority share holder and board chairman? TK got kicked out of Uber and it was largely a good thing for the company and its shareholders. As a Facebook shareholder, I definitely feel that kicking Zuck and Sheryl might be the best thing for it medium term.

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TOP 31 Comments
  • Microsoft BarFoo
    If you don’t have the votes to replace the chairman, the only way to do it is to have the SEC find legal reasons to charge him and get a settlement. See Elon Musk.
    Dec 19, 2018 10
    • Uber kisht
      OP
      The Congress has called him for questions a few times now. Can they also charge him?
      Dec 19, 2018
    • Microsoft BarFoo
      They can’t do shit.
      Dec 19, 2018
    • Amazon / Eng n0v
      Congress can charge. It won't happen though unless it's really over the top illegal.
      Dec 19, 2018
    • Microsoft BarFoo
      What can Congress charge him with?
      Dec 19, 2018
    • Amazon / Eng n0v
      Contempt of Congress would be most common. They can also make referrals to fbi or other enforcement agencies. Congress's Sargeant at arms can also arrest and detain according to congress's request. (In the case of Zuck it's not going to happen this way, but it theoretically could)
      Dec 19, 2018
    • Microsoft BarFoo
      That would require him to do something that would be in Contempt of Congress, now wouldn’t it? If he just shows up, he can plead the 5th all day and they can’t do shit about it.

      Furthermore, being held in Contempt of Congress is not a “cannot hold office of a public company” offense, so that wouldn’t do shit.

      And if it’s “really over the top illegal”, either state or federal prosecutors would be doing it, not Congress.

      Congress can’t do shit.
      Dec 19, 2018
    • Amazon / Eng n0v
      Contempt of Congress is anything that Congress votes is contempt. But I agree that serious crimes are more likely to be referred to FBI, SEC or similar. The last time Congress actually directly arrested someone was 1935, but the power remains.
      Dec 19, 2018
    • Uber kisht
      OP
      The natural followup is when do ethics/privacy issues big enough for SEC to step in? Has there been any precedent for that?
      Dec 19, 2018
    • Microsoft BarFoo
      SEC can only step in if his actions have resulted in breaching his fiduciary duty to the shareholders.
      Dec 19, 2018
    • Microsoft BarFoo
      @n0v Contempt of Congress has a strict statutory definition and is absolutely not “anything that Congress votes is contempt”.
      Dec 19, 2018
  • LinkedIn
    @fb

    LinkedIn

    PRE
    Goldman Sachs
    @fbmore
    He resigned in my dream last night. Seriously. I’m not trolling. Then waking up with these news. Isn’t it crazy?
    Dec 19, 2018 1
    • New daring
      Was he pegging you in the dream?
      Dec 19, 2018
  • Lyft Hoooo
    The difference is that Uber is losing a lot of money and investor only wants to go IPO
    Dec 19, 2018 3
    • Uber kisht
      OP
      Hardly
      Dec 19, 2018
    • Oath / Mgmt Atinlay
      Rideshare fight!!!!
      Dec 19, 2018
    • Apple TimHorton$
      You’re both hemorrhaging cash.
      Dec 19, 2018
  • Financial Engines / Data frugalguy
    Zuck cannot be kicked out unless he decides to step down. Because of double voting rights structure he has in place in the board.
    Dec 19, 2018 2
    • Uber kisht
      OP
      Is voting the only way to kick a chairman even if there are repeated violations? Can't the rest of the board apply other kinds of pressure?
      Dec 19, 2018
    • Amazon / Eng n0v
      He could be voted out, he could step down as part of a settlement with sec or some other policing agency, or if he is criminally charged with a felony and convicted, afaik he cannot serve on a board (but he could still vote and presumably be CEO). He could also step down because of social/business pressures (I.e. he believes stepping down is best for the company).
      Dec 19, 2018
  • Yahoo KMdL43
    do you know how much he is respected by employees unlike your company?
    Dec 19, 2018 3
    • Uber kisht
      OP
      Your statement makes no sense. You will do something right even if you disagree with a few people.
      Dec 19, 2018
    • Oath / Mgmt Atinlay
      https://en.m.wikipedia.org/wiki/Travis_Kalanick

      “Criticism of Kalanick's behavior at Uber Edit
      In 2017, it was reported that Kalanick had knowledge of sexual harassment allegations at Uber and did nothing.[45] In the same week, he asked his direct report,[46] Uber's SVP of Engineering Amit Singhal, to resign after a month for failing to disclose a sexual harassment claim during Singhal's 15 years as VP of Google Search, after Recode reported about it in media.[47][48][49] According to Reuters, he has "a reputation as an abrasive leader".[50][51]

      In February 2017, a video was released where Kalanick was shimmying between two women in an UberBLACK, before arguing with an Uber driver during a heated debate in which he berated the driver.[52][53][54]

      In March 2017, Uber VP of Business, Emil Michael contacted Kalanick's ex-girlfriend in an attempt to silence her into hiding an HR complaint. This backfired, with her speaking to The Information as a source present during an executive team outing with Kalanick, where Michael and four more Uber managers selected numbered women at a Korean escort bar, prompting a complaint one year later, by the female manager who attended.[55][56] She also has since spoken to Businessweek about Uber's India rape case.[57]

      On June 21, 2017, he stepped down as the CEO of Uber because of the pressure from a majority of the investors as he was seen as a liability but will continue to stay on the company's board.[58]”
      Dec 19, 2018
    • Yahoo KMdL43
      huh, uber
      Dec 19, 2018
  • Research Now / QA
    DuHastMich

    Research Now QA

    BIO
    If the rule you followed brought you to this ..... of what use was the rule.
    DuHastMichmore
    I hope that shape shifting lizard really does get fired
    Dec 19, 2018 0
  • Microsoft / Eng 2019
    Easy. Mass liquidation of FB stock, #DeleteFB becomes the norm, FB goes bankrupt and is sold off for spare parts. No more company to be CEO and chairman of. Humanity wins.
    Dec 20, 2018 1
    • Facebook / Eng cppatfb
      And then you woke up?
      Dec 22, 2018
  • Oath / Mgmt Atinlay
    Huh?
    Dec 19, 2018 1
    • Uber kisht
      OP
      Corrected impressed to impeached. 😁
      Dec 19, 2018
  • But why?
    Dec 19, 2018 0
  • LeanTaaS ♥️ data
    I don't think anyone can throw him out... He did make sure of that..

    He is the largest share holder not just by percentage but also by voting rights.
    Dec 19, 2018 0

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