[P2P-F] Fwd: FW: Facebook Board Adopts New Focus on ‘Privacy and Data Use’, ‘Community Safety’ and Cybersecurity Risks

Tue Jun 26 11:01:27 CEST 2018

---------- Forwarded message ----------
From: Hazel Henderson <hazel.henderson at ethicalmarkets.com>
Date: Mon, Jun 25, 2018 at 9:32 PM
Subject: FW: Facebook Board Adopts New Focus on ‘Privacy and Data Use’,
‘Community Safety’ and Cybersecurity Risks
To: Julie Jones <em at designextensions.com>
Cc: Michael Connor <mconnor at openmic.org>, parminder <
parminder at itforchange.net>, Michel Bauwens <michel at p2pfoundation.net>

   Hi Julie :Please post this on our daily “Latest Headlines’   an on our
Wealth of networks page, thanks

*From:* Open MIC <mconnor at openmic.org>
*Sent:* Monday, June 18, 2018 8:48 AM
*To:* Hazel Henderson <hazel.henderson at ethicalmarkets.com>
*Subject:* Facebook Board Adopts New Focus on ‘Privacy and Data Use’,
‘Community Safety’ and Cybersecurity Risks

*    For Immediate Release*
*     June 18, 2018*

*Following Pressure From Shareholders, Facebook Board Adopts New Focus on
‘Privacy and Data Use’, ‘Community Safety’ and Cybersecurity Risks*

*Move by company nearly mirrors recommendations made by shareholders and
activists; critical board committee is now responsible for ‘Audit & Risk
Oversight’*

New York - June 18 - Facebook Inc.’s Board of Directors responded to
pressure from shareholders and quietly adopted important and substantial
changes to the charter of one of the board’s key committees, renaming the
committee and broadening its mission to include oversight of issues that
have placed the social media platform at the center of global controversy,
including privacy, data use, community safety and cybersecurity.

The changes are included in a posting on Facebook’s corporate website
<http://email.robly.com/wf/click?upn=T8Y6V-2BZKAO32X7UJIYRgLMmS1wOzDaV7uvOhB-2FzLohrWwBOc0r3UI4tT-2BwDRSH1w2IFg20augfTmId-2BH6-2FQ2XO0Fo2NhJfbYj9jvwptdKEME3cUzXEdhIzBoyGv9U15R_Kx0dgfmwDSPs09mPRMMzndGmY3lCUaSB-2BvpxuJO-2F40kMstBGhg2GKniNQ-2FZT2DyVW2NiIsPP-2BYOgWhcpxFoy2bvHIkpPVmXRpRVPObY6Tb3USyNaeA8ZgsniMmw5qjHvdqRpkuMjOycmcGmBexM4FbexqHNv9s-2BM6OxBZ41gmiPgNBdpnRRmtGd-2FVwkMYjqyPg-2FyO0t3Q-2FOVDtHxpV3R2kXOpjXeQmXyRqp7m2bTBfwTMRcNOLPzoPH3b2uEx5JovB2mPG89P8-2FgOgqr-2Blk5LJ0OxeRd4vkjtlE00kqY-2BJAdL6Pk07yBoWcbROUeHcmORcAeDDVl9XzWkmaxUFKcfWIAIb7KbuVZby-2FA-2BlH4ibSCrf5W9l8KX0iQCRxbYiarD4IJYfJ6m-2F-2BtmTk50kj-2B1KAI-2BXygu9LdcJMAxdfh2PMBoJ35-2FfzKOK2i2Hc8qsUMO4t85OBOl5kESxXJyqAKQjzm47-2BSMOdouY63-2B-2FB-2F4mk-3D>.
They became effective June 14 and were not otherwise announced publicly.

The actions taken by Facebook's board closely match those recommended in a
shareholder proposal that was voted on at the company’s annual meeting two
weeks ago. That proposal, filed by Trillium Asset Management
<http://email.robly.com/wf/click?upn=7FZtwluC3SJadaPUwFZdSVlpJBCr-2FAasyflM8f-2B8eSXV-2BwbmaY7P7J0Z3aIqLILB_Kx0dgfmwDSPs09mPRMMzndGmY3lCUaSB-2BvpxuJO-2F40kMstBGhg2GKniNQ-2FZT2DyVW2NiIsPP-2BYOgWhcpxFoy2bvHIkpPVmXRpRVPObY6Tb3USyNaeA8ZgsniMmw5qjHvdqRpkuMjOycmcGmBexM4FbexqHNv9s-2BM6OxBZ41gmiPgNBdpnRRmtGd-2FVwkMYjqyPg-2FyO0t3Q-2FOVDtHxpV3R2kXOpjXeQmXyRqp7m2bTBfwTMRcNOLPzoPH3b2uEx5JovB2mPG89P8-2FgOgqr-2Blk5LJ0OxeRd4vkjtlE00kqY-2BJCa60j8797Taoe1KSaxXjVQrVTAZWXZSr3q7APeE818Xul6XqmvejbvoHizEbTp2PRCu0Jhs4SymZdskLmekPDElx-2FIi0PmIjnlDX2AGDocpaC1YdAi0lUtlXyiMYKlrdS9ECdvC4NW7w5cPrkZlXxUy5eQ2DPTmnV0yrQ71w-2Fq6KuTpl6f3HcFMa7Snl7s7fE-3D>
and the Park Foundation
<http://email.robly.com/wf/click?upn=MtXSAxnq8-2FsS2NLN78MecCvkgkRrfCqptrYPFvh1h-2BsddffgDIgczjPvlxx-2BjNjR_Kx0dgfmwDSPs09mPRMMzndGmY3lCUaSB-2BvpxuJO-2F40kMstBGhg2GKniNQ-2FZT2DyVW2NiIsPP-2BYOgWhcpxFoy2bvHIkpPVmXRpRVPObY6Tb3USyNaeA8ZgsniMmw5qjHvdqRpkuMjOycmcGmBexM4FbexqHNv9s-2BM6OxBZ41gmiPgNBdpnRRmtGd-2FVwkMYjqyPg-2FyO0t3Q-2FOVDtHxpV3R2kXOpjXeQmXyRqp7m2bTBfwTMRcNOLPzoPH3b2uEx5JovB2mPG89P8-2FgOgqr-2Blk5LJ0OxeRd4vkjtlE00kqY-2BJAPOcVnbtDsEc-2B7zG-2BYjrtw8neZGtDImqfvUSxUNHl1DTeo6H4M1BZ-2FIQygJHOkhWCITBwMafYZg-2BTgXaVbLBYrKeg46TyQsb3ncnCzE5TOOV5yEsEV9sCYAFiSVFtln1Fxg3At-2FR6iWSrVPijVbFMCUeCBW7ph-2BC2gzGCjQFdFTKtOoe03k7wf-2BiKjQxh-2B-2BYU-3D>,
and developed with support from Open MIC, called for the board to
appoint a Risk
Oversight Committee
<http://email.robly.com/wf/click?upn=7FZtwluC3SJadaPUwFZdSVlpJBCr-2FAasyflM8f-2B8eSWPLZYWIiDUUw-2B15bubGjpVTYGD4XK1VjyIWsh20Pwvz1xQ0ZlSc-2B-2Fn4-2B7-2FvG8kHkcO-2BXCVbZ0PfripDcaLogcknMpVN2uSEKPYrP-2FofcMrtA-3D-3D_Kx0dgfmwDSPs09mPRMMzndGmY3lCUaSB-2BvpxuJO-2F40kMstBGhg2GKniNQ-2FZT2DyVW2NiIsPP-2BYOgWhcpxFoy2bvHIkpPVmXRpRVPObY6Tb3USyNaeA8ZgsniMmw5qjHvdqRpkuMjOycmcGmBexM4FbexqHNv9s-2BM6OxBZ41gmiPgNBdpnRRmtGd-2FVwkMYjqyPg-2FyO0t3Q-2FOVDtHxpV3R2kXOpjXeQmXyRqp7m2bTBfwTMRcNOLPzoPH3b2uEx5JovB2mPG89P8-2FgOgqr-2Blk5LJ0OxeRd4vkjtlE00kqY-2BJDgi0kx3VFNzlk20-2Bq11R4QKVk35gyb8A-2FniznD8cuDZ-2BSWkBh9cUaxVJyLx7LmdUGtng6dk6-2FNmDMtqlD-2F2LpaTVi9pZfNJS3tnTMQnobkCFRkKLm416gHbUDjyBgDJ1gSFIPQWhHIL-2Bgehlieu8SiJDa1t4lnVON5T0lyghDIy-2BMWW-2FBLeVzvKL5pP7sQdQg-3D>.
Facebook strongly opposed the proposal, which nonetheless attracted support
of more than 45% of the company’s independent shareholders, according
to an Open
MIC analysis
<http://email.robly.com/wf/click?upn=7FZtwluC3SJadaPUwFZdSWR-2BF6S36WmXlzFPKv2jwbuwpfW9e1ZehSZuF3dhm7cgizlU35T5lu3sYcoen0aXSzdOP-2FB9ck9PjWX41x60T4Nf-2FO5WDDR-2FWKa0C5lzMtAoN9RZjiZwaTiWU0OLM5zZMQXtPh40CjPqaeRBKiPq-2FM9lwdPfv5-2FjqamZjoI9Zwg8_Kx0dgfmwDSPs09mPRMMzndGmY3lCUaSB-2BvpxuJO-2F40kMstBGhg2GKniNQ-2FZT2DyVW2NiIsPP-2BYOgWhcpxFoy2bvHIkpPVmXRpRVPObY6Tb3USyNaeA8ZgsniMmw5qjHvdqRpkuMjOycmcGmBexM4FbexqHNv9s-2BM6OxBZ41gmiPgNBdpnRRmtGd-2FVwkMYjqyPg-2FyO0t3Q-2FOVDtHxpV3R2kXOpjXeQmXyRqp7m2bTBfwTMRcNOLPzoPH3b2uEx5JovB2mPG89P8-2FgOgqr-2Blk5LJ0OxeRd4vkjtlE00kqY-2BJDY-2BKTKXxVHDbdrOZPK-2FAgrWk6lXIEb0KjVrQL5DQSnw6ac81VtVQR8fWKnp04Q0XEkx4wuSzwYm8bvh0aEo3UzCwbhsn0MpGUKT2Fb2OErS-2FJeFVdAx5P6-2B-2BSG0z884d97mTYzKttSi8xV5M5avuGq0-2F-2FzdIbEtc5jnKimf6HI4CwMIMZ8BGk2AgmRBpVY5-2BQ-3D>
.

“This is an important step by Facebook’s board toward improving corporate
accountability and attempting to address the many controversies plaguing
the company,” said Michael Connor, Executive Director of Open MIC, a group
that has worked with Facebook shareholders for years to bring about better
transparency and accountability at the company. “Acknowledging the
responsibility of the board is a critical step toward accountability, but
the real work is for Facebook to become truly responsive to the people who
are most impacted by its privacy, data use, community safety, and
cybersecurity policies. Facebook will continue to be judged by how it
actually avoids risks and harms to its billions of users, not by what it
promises.”

“The people who use Facebook deserve better assurances that their privacy
will be protected,” said Jon Jensen, Executive Director of the Park
Foundation.

Jonas Kron, Senior Vice President at Trillium Asset Management, said: “The
Facebook board has made an important and necessary change by expressly
articulating these responsibilities for overseeing privacy, impacts on the
public interest, and other areas. It reflects more robust and big picture
risk oversight and depending on implementation, we expect it should help to
stem the flow of serious controversies facing Facebook.”

In its latest action, Facebook’s board does not establish a new committee
but instead renames its prior Audit Committee as the “Audit & Risk
Oversight Committee,” with a focus on many of the responsibilities in the
shareholder proposal. The new charter specifically charges that the
committee will meet at least annually with Facebook management to review:

   - *Privacy and Data Use*, including “a) the Company’s privacy program,
   (b) the Company’s compliance with its consent order with the U.S. Federal
   Trade Commission, as well as the General Data Protection Regulation and
   other applicable privacy and data use laws, and (c) the Company’s major
   privacy and data use risk exposures…”;
   - *Community Safety and Security*, including “assessment of the major
   ways in which (the Company’s) services can be used to facilitate harm or
   undermine public safety or the public interest, as well as the steps the
   Company has taken to monitor or mitigate such abuse...”;
   - *Cybersecurity*, including “the Company’s cybersecurity risk exposures
   and the steps the Company has taken to monitor or mitigate such
   exposures...”.

Members of Facebook’s newly-named Audit & Risk Oversight committee include
four of the company’s independent directors: Erskine B. Bowles, Marc
Andreessen, Kenneth I. Chenault and Jeffrey Zients.

*About Open MIC*

Open MIC works to foster greater corporate accountability at media and
technology companies.
Our primary tool is shareholder engagement. Working with impact investors,
Open MIC identifies, develops and supports campaigns that promote values of
openness, equity, privacy, and diversity – values that provide long-term
benefits for individuals, companies, the economy and the health of
democratic society.

Open MIC believes shareholders have a right and responsibility to add their
voices to discussions affecting both traditional and emerging media forms.
We aim to deploy the collective power of investment management and advisory
firms, mutual fund companies, foundations, pension funds and advocacy
groups to help shape corporate media policies and practices.

*Contact Us*
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*Michael Connor, Executive Director*
*mconnor at openmic.org <mconnor at openmic.org>  |  www.openmic.org
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<http://email.robly.com/wf/click?upn=T8Y6V-2BZKAO32X7UJIYRgLIzzgCvaMRakXRXRSZJoJqgGpEDCOHwfm4SjAtOT9SPKtR5WdohcK7bxA1RpkQ9eTSm0MjhYRxlfMOmCPWzCGSM-3D_Kx0dgfmwDSPs09mPRMMzndGmY3lCUaSB-2BvpxuJO-2F40kMstBGhg2GKniNQ-2FZT2DyVW2NiIsPP-2BYOgWhcpxFoy2bvHIkpPVmXRpRVPObY6Tb3USyNaeA8ZgsniMmw5qjHvdqRpkuMjOycmcGmBexM4FbexqHNv9s-2BM6OxBZ41gmiPgNBdpnRRmtGd-2FVwkMYjqyPg-2FyO0t3Q-2FOVDtHxpV3R2kXOpjXeQmXyRqp7m2bTBfwTMRcNOLPzoPH3b2uEx5JovB2mPG89P8-2FgOgqr-2Blk5LJ0OxeRd4vkjtlE00kqY-2BJDSXVHXCocjxfT4qKJIRuiR25OB7dhTH6cQIxCO5g-2BR3ElVE-2B8om8uKHVF4FY9usnOYr5vkY6bCgMqbEU-2FO6fdQSH4wA4R2nRfVUIq-2FmpIYejK-2F7q9-2F9C2rQ4HFmfV5mn1qJ5L1smfaVTbP-2FAVV-2BqgGQ6gb8GD0JrXN74t26-2FIcl0ZZvVeORvnCS9wM55e-2BG1c-3D>

[image: google analytics]

-- 
Check out the Commons Transition Plan here at: http://commonstransition.org

P2P Foundation: http://p2pfoundation.net  - http://blog.p2pfoundation.net

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#82 on the (En)Rich list: http://enrichlist.org/the-complete-list/
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