Facebook is in deep financial difficulty after its Chief Executive Officer (CEO), Mark Zuckerberg lost more than $16 billion in less than 24 hours.
The company reported weaker-than-expected second-quarter results and issued guidance that its financial future is not as rosy as some investors thought it might be.
Set against this backdrop, one activist investor wants Zuckerberg out as the firm’s chairman.
Zuckerberg recently sparked outrage when he described Facebook’s handling of content from Holocaust deniers on the social network.
He subsequently backtracked on his comments.
Fake news remains an ongoing struggle for the social media giant. Earlier this week, the company was slammed by the parents of a Sandy Hook massacre victim for the hoax claims that emergedon the platform.
Facebook has also been sucked into the probe into alleged Russian meddling in the 2016 presidential election.
The…
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