Former American Express boss Kenneth Chenault announced retirement plans from the boards of IBM and Procter & Gamble, igniting speculation about his seat on Facebook’s board.
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Whenever a company’s under intense scrutiny, people try to read tea leaves in everything that happens.
In Facebook’s case, the speculation comes in the form of former American Express CEO Kenneth Chenault, who joined the social networking giant’s board in January. If you’ve been keeping track, that was just before the Cambridge Analytica scandal hit, followed by Facebook CEO Mark Zuckerberg’s testimony on Capitol Hill, then a massive hack and a bombshell report from The New York Times questioning Zuckerberg’s leadership.
Amid these scandals, investors, analysts and tech pundits have begun to wonder whether Zuckerberg’s role at Facebook might change. Reporters have begun asking Zuckerberg on press calls whether he’ll step down as Facebook’s chairman or even as its CEO. So far, he’s resisted.
Then, this week, both IBM and Procter & Gamble announced that Chenault plans to step down from positions on their boards, raising questions among some Facebook watchers about whether Chenault may be preparing to step into the role of Facebook chairman.
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Turns out, the answer from Facebook is “no.”
The company said Chenault will continue to serve on our board in the same capacity as before.
So there you have it: Zuckerberg will remain Facebook’s CEO and chairman. In case you’re wondering.
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