CalSTRS Will Engage With Facebook in Midst of Scandal on Privacy Issues
- Decision came after CIO Ailman deactivated his personal page
- State teachers fund holds Facebook stake worth $931 million
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The California State Teacher’s Retirement System plans to seek information on what Facebook Inc. is doing to protect user data following a privacy scandal.
The pension giant disclosed the plan on Thursday after its chief investment officer, Christopher Ailman, joined the ranks of disgruntled Facebook users by removing his personal account, claiming in a tweet that the social media company’s lack of oversight and poor management was “offensive.” On Wednesday, Facebook CEO Mark Zuckerberg said that the crisis, including the #DeleteFacebook movement which Ailman referenced, wasn’t meaningfully affecting the business.