Facebook CEO Mark Zuckerberg speaks on stage during the Facebook F8 conference in San Francisco, California April 12, 2016. REUTERS/Stephen Lam
Facebook Inc shareholders approved a proposal to create a new class of non-voting shares, a move aimed at letting chief executive officer Mark Zuckerberg give away his wealth without relinquishing control of the social media company he founded.
The company's plan to issue two "Class C" shares for each Class A and Class B share held by shareholders, in what is effectively a 3-for-1 stock split, was approved by Facebook shareholders at the company's annual general meeting on Monday.
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