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- Facebook has beefed up the power of its audit committee, which is chaired by former White House chief of staff Erskine Bowles.
- The committee will monitor Facebook's social impact, privacy safeguards, and cybersecurity risk.
- It is being seen as a major concession to shareholders, who have campaigned for a risk committee.
- They welcomed the news, but said Facebook will be judged by its actions, not its promises...
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Facebook will continue to be judged by how it actually avoids risks and harms to its billions of users, not by what it promises.
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