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Facebook Board Rejects Proposals to Curb Zuckerberg’s Power

Mark Zuckerberg

Mark Zuckerberg

Photographer: George Frey/Bloomberg

Facebook Inc. rejected two proposals intended to diminish Chief Executive Officer Mark Zuckerberg’s control over the company, an expected though disappointing outcome for those worried about the CEO’s power.

The board Wednesday turned down a proposal to replace Zuckerberg as chairman with an independent representative. Zuckerberg, who has served as chairman since 2012, controls about 58% of the voting shares, according to a regulatory filing.