May 31, 2018 / 7:05 PM / 20 days ago

Facebook says all directors elected, shareholder proposals rejected

BOSTON (Reuters) - All eight of Facebook Inc’s (FB.O) director nominees were elected at its annual meeting on Thursday, and all six shareholder proposals urging reforms, including to its voting structure and content oversight, were rejected, company executives said.

FILE PHOTO - The Facebook logo is shown at Facebook headquarters in Palo Alto, California, U.S. May 26, 2010. REUTERS/Robert Galbraith/File Photo

They did not immediately give vote tallies at the annual meeting in Menlo Park, California, which was webcast.

That left unclear to what extent outside investors cast ballots in favor of the company and Chief Executive Mark Zuckerberg, who with other insiders controls about 60 percent of votes at the world’s largest social media network.

Facebook has been under scrutiny from regulators and shareholders about its internal controls and oversight after it failed to protect the data of some 87 million users that was shared with now-defunct political data firm Cambridge Analytica.

Zuckerberg at the meeting outlined changes it plans in response such as verifying the identity of advertising and increasing security spending.

Reporting by Ross Kerber; Editing by Richard Chang

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