Outside Investors Rebuke Facebook Vote Structure Tallies Show

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BOSTON – A wide majority of outside investors at Facebook Inc backed a measure that would revamp its voting structure and end the supervoting rights of shares held by Mark Zuckerberg and others, seen as a rebuke to the chief executive of the world’s largest social media company.

The measure did not pass, said Facebook, which released tallies indicating the result on Tuesday, and where Zuckerberg controls about 60 percent of the company’s votes. The company is under scrutiny over its response to data privacy concerns.

“There are a lot of outside voters who are not happy with what’s going on there,” said Dayna Harris, a partner at compensation consulting firm Farient Advisors.




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