Thursday, 10 May 2012

Facebook CEO Mark Zuckerberg gets flak for his attire

What Mark Zuckerberg's Hoodie Is Really Saying to Wall Street

Mark Zuckerberg is known for having arrived late for a meeting with prospective investor Sequoia Capital and giving a less-than-serious pitch while wearing pajamas. 

Now, as Facebook preps its initial public offering, Zuckerberg's wardrobe has not received much of an upgrade. 
Zuckerberg's hoodie rankles Wall Street

Wearing a hoodie to a meeting in New York on Monday with potential investors is a sign of Zuckerberg's lack of seriousness, according to Michael Pachter, an analyst for Wedbush Securities.   

"Mark and his signature hoodie: He's actually showing investors he doesn't care that much; he's going to be him," Pachter said in an interview on Bloomberg TV. "I think that's a mark of immaturity. I think that he has to realize he's bringing investors in as a new constituency right now, and I think he's got to show them the respect that they deserve because he's asking them for their money." 

A Facebook spokeswoman declined to comment. 

Zuckerberg is similar to Steve Jobs, the late Apple co-founder, in that he's an eccentric leader who doesn't want to answer to anybody, Pachter said. Jobs had his own signature garb: a black turtleneck, blue jeans and sneakers. 
Should Zuckerberg have doffed his hoodie?

Pachter said Zuckerberg "is well-suited to be the chief product officer, the chief user-experience officer, to manage the design of the user interface, to decide every feature that goes in." 

As for running a corporation and answering to shareholders? Pachter said he's not so sure. 

Still, he was the first analyst to give the company a buy rating last week, even though he doesn't expect Facebook to see rapid growth in revenue for a few years. 

Zuckerberg has forgone his casual attire for certain events. For example, in meetings with President Obama, he has worn button-down shirts, sports jackets and ties. Even then, Zuckerberg complemented the attire with jeans and sneakers. 

The fashion sense of Facebook's chief isn't the only thing getting attention at the road show. Investors in New York complained about the long waits and limited facetime with Facebook's executives, according to CNBC. 

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