Zuckerberg intends to retain majority voting position in Facebook stock for 'foreseeable future'

Reuters News
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Posted: Dec 01, 2015 4:45 PM

(Reuters) - Facebook Inc:

* CEO zuckerberg intends to retain his majority voting position in Facebook

stock for "foreseeable future"

* CEO Mark Zuckerberg informed he plans to sell or gift no more than $1 billion

of Facebook stock each year for the next three years

* Mark Zuckerberg will gift substantially all of shares of stock to further

"mission of advancing human potential and promoting equality"

* Zuckerberg established a new entity, chan zuckerberg initiative, and will

control voting and disposition of any shares held by such entity

* Source text (http://bit.ly/1ltp01x)

(Bengaluru Newsroom)