Facebook spends $22.6 million to keep Mark Zuckerberg safe

Facebook Inc more than doubled the money it spent on Chief Executive Officer Mark Zuckerberg`s security in 2018 to $22.6 million, a regulatory filing showed on Friday.

Zuckerberg has drawn a base salary of $1 for the past three years, and his "other" compensation was listed at $22.6 million, most of which was for his personal security.

Nearly $20 million went towards security for Zuckerberg and his family, up from about $9 million the year prior. Zuckerberg also received $2.6 million for personal use of private jets, which the company said was part of his overall security programme.

Add Zee Business as a Preferred Source

Facebook has in the past few years faced public outcry over its role in Russia`s alleged influence on the 2016 U.S. presidential election and has come under fire following revelations that Cambridge Analytica obtained personal data from millions of Facebook profiles without consent. (https://bit.ly/2Gbb9cn

Chief Operating Officer Sheryl Sandberg took home $23.7 million in 2018 compared to $25.2 million last year.

Separately, Facebook said Netflix Chief Executive Officer Reed Hastings would vacate his seat on the social media company`s board and not be nominated for re-election.

Hastings` departure comes as the Menlo Park-based company beefs up its push into videos. Hastings has served on Facebook`s board since 2011.

The company also said it would nominate PayPal`s senior vice president of core markets, Peggy Alford, to its board in place of University of North Carolina President Emeritus Erskine Bowles, who will also not be re-nominated.

Facebook shares closed at $179.07 Friday evening.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)