This means that when over ⅔ of outsider investors voted to fire Mark Zuckerberg, it meant nothing:

The Facebook shareholder revolt just got bloody.

Facebook revealed in a filing on Monday how investors voted on a raft of proposals at its annual shareholder meeting last week — and the results underline the unrest among outside investors.

According to an analysis of the results by Open Mic — an organization that works with activist shareholders to overhaul corporate governance at America’s biggest companies — independent shareholders overwhelmingly backed two proposals to weaken Mark Zuckerberg’s power.

Some 68% of ordinary investors, those who are not part of management or the board, want to oust Zuckerberg as chairman and bring in an independent figure to chair Facebook’s board. This was a significant increase on the 51% who voted in favor of an almost identical proposal last year.

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Furthermore, 83.2% of outside shareholders also backed a proposal to scrap Facebook’s dual-class share structure. Currently, class A shareholders have one vote for each share, while class B shareholders get 10 votes a share. Management and directors control class B shares.

Furthermore, 83.2% of outside shareholders also backed a proposal to scrap Facebook’s dual-class share structure. Currently, class A shareholders have one vote for each share, while class B shareholders get 10 votes a share. Management and directors control class B shares.

I think that, absent some changes in securities law, the only way that Zuckerberg leaves Facebook is if some enterprising prosecutor throws him in jail.