Careers Contact us
Menu

AllianzGI announces its support for two shareholder proposals at Meta Platforms' 2025 AGM

London, 19 May 2025 – Allianz Global Investors (AllianzGI), one of the world's leading active investment managers, today announced its intention to support two shareholder proposals at Meta Platforms, Inc.'s (formerly Facebook) upcoming Annual General Meeting (AGM) on May 28, 2025. The votes relate to Proposal Six: Shareholder Proposal Regarding Dual Class Capital Structure and Proposal Seven: Shareholder Proposal Regarding Disclosure of Voting Results Based on Class of Shares. 

AllianzGI is an investor in Meta via Class A shares, while Class B shares, almost entirely held by the founder and CEO, have ten times the voting power. This structure disproportionately attenuates AllianzGI’s voting power relative to its capital stake. We believe that differential ownership significantly reduces the ability of minority shareholders to address any misalignment of interests that may occur over time and deny investors the tools they can use to put things right if they go wrong. Supporting the resolution to adopt a one-share-one-vote principle aligns with our commitment to fair corporate governance practices.

These proposals aim to enhance corporate governance and transparency at Meta Platforms, Inc:

Proposal Six: Shareholder Proposal Regarding Dual Class Capital Structure
AllianzGI will vote in favour of the proposal requesting Meta Platforms' Board to take all practicable steps to initiate and adopt a recapitalisation plan for all outstanding stock to have one vote per share. This proposal recommends a phase-out process within seven years, or another timeframe justified by the Board to eliminate the disproportionate rights of Class B shareholders, which are almost entirely held by the founder and CEO and carry ten times the voting power of Class A shares.

Proposal Seven: Shareholder Proposal Regarding Disclosure of Voting Results Based on Class of Shares
AllianzGI will also support the proposal requesting Meta Platforms to disclose the voting results on matters subject to a shareholder vote according to the class of shares, effective beginning at the Company’s 2026 annual meeting of shareholders. This proposal aims to enhance transparency by breaking down the voting results between shares carrying one voting right and those carrying multiple voting rights. AllianzGI believes that this would help to give greater visibility to the views of minority shareholders. 

Matt Christensen

Matt Christensen, Global Head of Sustainable and Impact Investing at AllianzGI, commented:
“AllianzGI is committed to driving positive change through proxy voting and responsible investment practices. As long-term shareholders, our voting power should align with our capital stake. The current dual-class structure at Meta, where Class B shares held by the founder and CEO have ten times the voting power of Class A shares, disproportionately attenuates our ability to influence the company and hold the board accountable if needed. This is especially notable when persistently high levels of controversy raise concerns around governance weaknesses. Supporting these proposals is therefore consistent with our commitment to fair governance and effective stewardship. At AllianzGI it is our duty on behalf of our clients to exercise our voting rights thoughtfully." 

For further information please contact:

Sophie Niven
M: +44 7500 785667
Email: sophie.niven@allianzgi.com



About Allianz Global Investors:

Allianz Global Investors is a leading active asset manager with more than 700 investment professionals in over 20 offices worldwide, and managing EUR 561 billion in assets. We believe that with every change comes an opportunity. Our goal is to actively shape the future of investing for all our clients, wherever their location and whatever their objectives. Curious and active in everything we do, we aspire to generate impact beyond alpha, steering our clients’ assets towards the right place at the right time, and building solutions that draw on capabilities across public and private markets. 

Our focus on protecting and growing our clients’ assets allows us to create trusted partnerships, underpinned by a commitment to sustainability and driving positive change. 

Data as at 31 March 2025. Total assets under management are assets or securities portfolios, valued at current market value, for which Allianz Global Investors companies are responsible vis-à-vis clients for providing discretionary investment management decisions and portfolio management, either directly or via a sub-advisor (these include Allianz Global Investors assets which are now sub-advised by Voya IM since 25 July 2022). This excludes assets for which Allianz Global Investors companies are primarily responsible for administrative services only. Assets under management are managed on behalf of third parties as well as on behalf of the Allianz Group.  

  • Disclaimer
    Investing involves risk. The value of an investment and the income from it will fluctuate and investors may not get back the principal invested. Past performance is not indicative of future performance. This is a marketing communication. It is for informational purposes only. This document does not constitute investment advice or a recommendation to buy, sell or hold any security and shall not be deemed an offer to sell or a solicitation of an offer to buy any security. The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. We assume no obligation to update any forward-looking statement.

    The views and opinions expressed herein, which are subject to change without notice, are those of the issuer or its affiliated companies at the time of publication. Certain data used are derived from various sources believed to be reliable, but the accuracy or completeness of the data is not guaranteed and no liability is assumed for any direct or consequential losses arising from their use. The duplication, publication, extraction or transmission of the contents, irrespective of the form, is not permitted.

    This material has not been reviewed by any regulatory authorities. In mainland China, it is for Qualified Domestic Institutional Investors scheme pursuant to applicable rules and regulations and is for information purpose only. This document does not constitute a public offer by virtue of Act Number 26.831 of the Argentine Republic and General Resolution No. 622/2013 of the NSC. This communication's sole purpose is to inform and does not under any circumstance constitute promotion or publicity of Allianz Global Investors products and/or services in Colombia or to Colombian residents pursuant to part 4 of Decree 2555 of 2010. This communication does not in any way aim to directly or indirectly initiate the purchase of a product or the provision of a service offered by Allianz Global Investors. Via reception of this document, each resident in Colombia acknowledges and accepts to have contacted Allianz Global Investors via their own initiative and that the communication under no circumstances arises from any promotional or marketing activities carried out by Allianz Global Investors. Colombian residents accept that accessing any type of social network page of Allianz Global Investors is done under their own responsibility and initiative and are aware that they may access specific information on the products and services of Allianz Global Investors. This communication is strictly private and confidential and may not be reproduced, except for the case of explicit permission by Allianz Global Investors. This communication does not constitute a public offer of securities in Colombia pursuant to the public offer regulation set forth in Decree 2555 of 2010. This communication and the information provided herein should not be considered a solicitation or an offer by Allianz Global Investors or its affiliates to provide any financial products in Brazil, Panama, Peru, and Uruguay. In Australia, this material is presented by Allianz Global Investors Asia Pacific Limited (“AllianzGI AP”) and is intended for the use of investment consultants and other institutional /professional investors only, and is not directed to the public or individual retail investors. AllianzGI AP is not licensed to provide financial services to retail clients in Australia. AllianzGI AP is exempt from the requirement to hold an Australian Foreign Financial Service License under the Corporations Act 2001 (Cth) pursuant to ASIC Class Order (CO 03/1103) with respect to the provision of financial services to wholesale clients only. AllianzGI AP is licensed and regulated by Hong Kong Securities and Futures Commission under Hong Kong laws, which differ from Australian laws.

    This document is being distributed by the following Allianz Global Investors companies: Allianz Global Investors GmbH, an investment company in Germany, authorized by the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin); Allianz Global Investors (Schweiz) AG; Allianz Global Investors UK Limited, authorized and regulated by the Financial Conduct Authority; in HK, by Allianz Global Investors Asia Pacific Ltd., licensed by the Hong Kong Securities and Futures Commission; in Singapore, by Allianz Global Investors Singapore Ltd., regulated by the Monetary Authority of Singapore [Company Registration No. 199907169Z]; in Japan, by Allianz Global Investors Japan Co., Ltd., registered in Japan as a Financial Instruments Business Operator [Registered No. The Director of Kanto Local Finance Bureau (Financial Instruments Business Operator), No. 424], Member of Japan Investment Advisers Association, the Investment Trust Association, Japan and Type II Financial Instruments Firms Association; in Taiwan, by Allianz Global Investors Taiwan Ltd., licensed by Financial Supervisory Commission in Taiwan; and in Indonesia, by PT. Allianz Global Investors Asset Management Indonesia licensed by Indonesia Financial Services Authority (OJK).

    Admaster: 4502640

Allianz Global Investors

You are leaving this website and being re-directed to the below website. This does not imply any approval or endorsement of the information by Allianz Global Investors Asia Pacific Limited contained in the redirected website nor does Allianz Global Investors Asia Pacific Limited accept any responsibility or liability in connection with this hyperlink and the information contained herein. Please keep in mind that the redirected website may contain funds and strategies not authorized for offering to the public in your jurisdiction. Besides, please also take note on the redirected website’s terms and conditions, privacy and security policies, or other legal information. By clicking “Continue”, you confirm you acknowledge the details mentioned above and would like to continue accessing the redirected website. Please click “Stay here” if you have any concerns.