Heavyweight investors with shares in Facebook allege that the company’s executives have long ignored their concerns about governance, refused requests for proper shareholder dialogue and treated their efforts to offer advice with indifference. The behaviour of executives at the social media giant is “bizarre” and suggests Facebook does not think investors' views are important, according to one investor. The...
Several major institutional investors in Facebook claim the company’s executives have ignored their concerns about the firm’s governance and refused requests for dialogue. Eoin Murray, head of investment at Hermes Investment Management, said Facebook is slower to respond to requests for engagement than other companies, taking a few months agree and set up a meeting rather than three years. Natasha Lamb of Arjuna Capital said it took numerous attempts before Facebook responded to the asset manager’s concerns about the company’s gender pay gap, and suggested Facebook's governance structure contributes to its "apparent indifference".