Facebook on Wednesday announced its board of directors is proposing a new class of shares that will allow its founder to pursue a number of different initiatives while maintaining long-term control over the company. The news came on the heels of a blockbuster first quarter earnings report. The plan calls for Facebook to offer non-voting Class C capital stock, which will allow CEO Mark Zuckerberg to pursue his long-term vision, as well as outside philanthropic work, while protecting Facebook from a dilution of voting stock and mitigating risk of a succession plan.
The original article can be found here: http://www.ecommercetimes.com/story/83442.html?rss=1
Powered by WPeMatico