Wednesday 16 May 2012

With IPO, Zuckerberg now under scrutiny

SAN FRANCISCO - Mark Zuckerberg is the guiding force behind Facebook's meteoric rise from college dorm room project to global Internet powerhouse. The level of difficulty for sustaining success at a company that size is high even for a seasoned business executive, much less a college dropout who just turned 28 this week. Even when Google's 31-year-old co-founders, Sergey Bren and Larry Page, took their company public in 2004 in what is the biggest Internet IPO to date, the search giant already had veteran Eric Schmidt as CEO. "What's striking about Mark Zuckerberg is how successful he already has been," said Don Moore, associate professor in management of organizations at the University of California, Berkeley Haas School of Business. Facebook is expected to price its shares Thursday afternoon and start trading Friday morning on the Nasdaq stock market under the ticker symbol "FB." [...] that voting power share is "problematic" because it diminishes Zuckerberg's accountability to the board of directors and shareholders, said Charles Elson, director of the John L. Weinberg Center for Corporate Governance at the University of Delaware. [...] Robert Sutton, author of several business management books, including "Good Boss, Bad Boss," said Zuckerberg has so far made up for his own shortfalls by hiring top executives such as Sheryl Sandberg, who has gained wide acclaim since becoming chief operating officer in 2008.

Source: http://www.chron.com/business/article/With-IPO-Zuckerberg-now-under-scrutiny-3564281.php

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