Facebook shareholders approved a proposal to create a new class of shares without voting rights, as in order to allow the chief executive, Mark Zuckerberg, open up their actions without losing control of the company he founded.
The company's plan to issue two actions "Class C" for each Class A share and Class B shares held by shareholders in what is, in practice, a stock split was approved by Facebook's shareholders at the company's general meeting this Monday! market.
Shares Class C will be publicly traded under a new code.
Zuckerberg had said in December that it intended to put 99 percent of its shares in Facebook in a new philanthropic project focusing on human potential and equality.
The creation of shares Class C allow Zuckerberg to sell shares without voting rights, but keep the voting Class A shares and Class B that would allow maintaining control of Facebook.
Zuckerberg plans to command the Facebook "for a very long time," said the chief executive of 32 years to shareholders.
Shareholders also approved the continuation of the mandate of the eight board members, including billionaire investor Peter Thiel, who were running for reelection.
Facebook announced a plan to create a new class of shares without voting rights on April 27. The plan approval was virtually certain since Zuckerberg controls the company.
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