Facebook’s stock price has hit an all-time low and many analysts and investors are wondering if there should be a change at the top. Or whether there should be a difference in the management of the company.
Mark Zuckerberg did speak to his employees and stated that the decline in the stock price has been painful. But this does not necessarily mean that it was painful for him. It seemed like he was trying to show empathy and being defensive as usual. What I am trying to say is that he was telling his employees that he is not bothered about the negative media coverage as only him and his employees are aware about the vision for Facebook and how it will make money in the future.
The problem that bankers and investors have with Mark Zuckerberg is that he isn’t CEO material. For instance, remember the time when he showed up on a road show during the Facebook IPO with a hoodie and flip flops. He doesn’t care about the shareholders, but he must remember that they are really his bosses.
This is where a traditional CEO comes in handy as opposed to Zuckerberg, who is actually the visionary for the company. Optics are important. Being a company’s CEO is a totally different job. It involves dealing with finicky investors and presenting yourself well so that everyone is satisfied with what is going on in the company. Even Steve Jobs showed up in a suit when it was time to do road shows.