Documents filed as part of Facebook’s plan to go public show CEO Mark Zuckerberg has retained the right to pick his successor, according to the Daily Telegraph. CNET notes that Facebook voiced concern in the documents it filed that the increasing number of people who access it on mobile phones could harm the company’s future revenue growth.
The New York Times details some of the people who are expected to get rich off of Facebook’s initial public offering including a graffiti artist who opted for stock options instead of cash when he painted the company’s walls. Zuckerberg, who will become a multi-billionaire after the company he founded goes public, will see his salary drop to $1 in 2013, the Los Angeles Times reports. Read National Journal’s coverage of Facebook’s IPO on our Tech page.
At least a half dozen major U.S. companies hit with cyber breaches have failed to notify investors of the intrusions despite new guidance from regulators calling for such disclosure, Reuters reports.
Facing a bigger than expected loss in revenues, Sony’s new CEO has vowed to move quickly to fix the company, Reuters reports.
VeriSign, a top Internet infrastructure company, was hacked in 2010, Reuters reports.
Mexican antitrust regulators have blocked an effort by the country’s two biggest broadcasters to form a new mobile phone company, according to the Wall Street Journal.
USA Today gives high grades to Apple’s new digital textbooks app.