Facebook spends $22.6 million to keep Mark Zuckerberg safe

FILE PHOTO: Facebook’s founder and CEO Mark Zuckerberg speaks on the Viva Tech start-up and expertise summit in Paris, France, May 24, 2018. REUTERS/Charles Platiau

(Reuters) – Facebook Inc greater than doubled the cash it spent on Chief Executive Officer Mark Zuckerberg’s safety in 2018 to $22.6 million, a regulatory submitting confirmed on Friday.

Zuckerberg has drawn a base wage of $1 for the previous three years, and his “other” compensation was listed at $22.6 million, most of which was for his private safety.

Nearly $20 million went towards safety for Zuckerberg and his household, up from about $9 million the 12 months prior. Zuckerberg additionally obtained $2.6 million for private use of personal jets, which the corporate stated was a part of his general safety program.

Facebook has up to now few years confronted public outcry over its position in Russia’s alleged affect on the 2016 U.S. presidential election and has come underneath hearth following revelations that Cambridge Analytica obtained private information from hundreds of thousands of Facebook profiles with out consent.

Chief Operating Officer Sheryl Sandberg took residence $23.7 million in 2018 in contrast to $25.2 million final 12 months.

Separately, Facebook stated Netflix Chief Executive Officer Reed Hastings would vacate his seat on the social media firm’s board and never be nominated for re-election.

Hastings’ departure comes because the Menlo Park-based firm beefs up its push into movies. Hastings has served on Facebook’s board since 2011.

The firm additionally stated it could nominate PayPal’s senior vp of core markets, Peggy Alford, to its board instead of University of North Carolina President Emeritus Erskine Bowles, who may also not be re-nominated.

Facebook shares closed at $179.07 Friday night.

Reporting by Sayanti Chakraborty in Bengaluru; Editing by Shounak Dasgupta and Cynthia Osterman

Our Standards:The Thomson Reuters Trust Principles.

Source link reuters.com

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