Facebook (FB) shareholders voted overwhelmingly for a proposal to take away the special class of stock that gives CEO Mark Zuckerberg majority control of the company at the company's shareholder meeting last week, Bloomberg reported.
79% of shares not controlled by Zuckerberg voted in favor of the proposal.
However, Zuckerberg's 10-to-1 shareholder voting advantage makes the vote non-binding, even though he only controls 14% of the company's shares.
Zuckerberg's super voting power has been in place since the company went public in 2012, meaning shareholders who have invested in the company have always known that his is the only vote that matters.
In a separate proposal, 31% of shares not controlled by the CEO voted to separate the company's chairman and CEO roles, both of which are controlled by Zuckerberg.
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