Meta's massive deal for Zuckerberg proves execs aren't exempt from IRL work
Source: Business Insider ·
The tech giant's effort to dissuade its CEO from relocating reflects a common belief that the best work happens when everyone is together in person.
From the source
Meta's board wants its CEO, Mark Zuckerberg, to stick around — and stay local.Kent NISHIMURA / AFP via Getty ImagesMeta is offering CEO Mark Zuckerberg a $20 billion stock deal to keep him close to its headquarters.The move speaks to a common belief that the best work happens when everyone is together in person.Research suggests companies with far-flung CEOs pay a price for that distance.Meta wants more than rank-and-file employees at the office. It wants CEO Mark Zuckerberg there, too — even if that comes at a hefty price.The tech giant's board said in a securities filing Wednesday that it would create a new class of non-voting stock in part to keep Zuckerberg in control and give him a financial incentive to continue living near its headquarters. It described his presence at the office as "critically important" to its future success. Meta has required employees to come in at least three days a week since 2023.Zuckerberg previously told the board he was considering moving in response…