As Facebook Shares Tank, Calls for Zuckerberg's Head

Investors wonder if he's 'in over his hoodie'
By Kevin Spak,  Newser Staff
Posted Aug 17, 2012 3:41 PM CDT
As Facebook Shares Tank, Calls for Zuckerberg's Head
Mark Zuckerberg, center, rings the Nasdaq opening bell from Facebook headquarters in Menlo Park, Calif, May 18, 2012.   (AP Photo/Nasdaq via Facebook, Zef Nikolla, File)

With Facebook stock continuing to find new lows, grumbles have started on Wall Street. "There is a growing sense that Mark Zuckerberg, talented though he may be, is in over his hoodie as CEO of a multibillion-dollar public company," one researcher tells the LA Times. Zuckerberg owns too much stock and holds too much power to be ousted, but some are saying he should voluntarily step into a product development role, handing CEO duties to a seasoned executive.

Many of these investors still haven't gotten over the way Zuckerberg dressed down during Facebook's road show. "His behavior is what I would expect of someone his age—the hoodies and everything else," said trader. "He's trying to appeal to his audience instead of being responsible to his investors." But others say there's no guarantee a new CEO would improve the company's prospects. "Zuckerberg appears to be a decent guy who the market should give a little bit longer to prove his mettle," one banker opined. (Read more Mark Zuckerberg stories.)

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