Facebook Names Former Treasury Official to Key Board Role
Robert Kimmitt, former U.S. deputy treasury secretary.
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Facebook Inc. appointed Robert Kimmitt, a former deputy Treasury secretary under President George W. Bush, as lead independent director.
The social media company and Chief Executive Officer Mark Zuckerberg have been criticized for Facebook’s corporate structure, in which Zuckerberg has a controlling stake in the company thanks to a special class of super-voting shares. His dominance has been a point of contention for investors who believe Facebook has been irresponsible in the handling users’ personal data, and that Zuckerberg has not been held accountable.