Facebook Inc. chief executive Mark Zuckerberg doesn't expect to play a hands-on role selling the social network's initial public offering to analysts, one Facebook executive told Wall Street analysts Monday.
The company is also planning to pay a below average fee to underwriters of the stock sale.
On Monday, Mr. Zuckerberg skipped a meeting of analysts and bankers at Facebook's Menlo Park, Calif., headquarters, according to people familiar with the meeting. In response to a question about his absence, the company's chief financial officer, David Ebersman, said Mr. Zuckerberg preferred to focus his time on developing the service rather than play a role with such analysts, the people said. |
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