Treasurer Magaziner Presses Facebook to Appoint Independent Board Chair

October 17, 2018: Rhode Island Treasurer Seth Magaziner, along with Illinois Treasurer Michael Frerichs, Pennsylvania Treasurer Joe Torsella, and New York City Comptroller Scott Stringer, has co-filed a shareholder proposal at Facebook, requesting the board of directors make the role of Board Chair an independent position.

Treasurer Magaziner's action comes just weeks after Facebook disclosed that nearly thirty million users may have had their data stolen.

"Facebook's board of directors must take responsible steps to protect the interests of the Rhode Island pension fund and other investors by providing independent oversight of company management and its CEO," said Rhode Island General Treasurer Seth Magaziner.

Read more about the Facebook shareholder proposal here.