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Tesla shareholders reject bid to strip Musk of chairman role

Tesla shareholders reject bid to strip Musk of chairman role

6 years ago
Anonymous $qrGo_Xv_Cm

https://phys.org/news/2018-06-tesla-shareholders-musk-chairman-role.html

Directors Antonio Gracias, James Murdoch and Elon's brother, Kimbal Musk, won by "a wide margin," according to Tesla. CtW Investment Group, an activist firm that represents labor union pension funds, had spearheaded a rebellion seeking to oust the trio from the board on the grounds that they didn't know about the auto industry at a critical time in Tesla's existence.

The company said a "supermajority" of shareholders also rejected a proposal to force Musk to step down as Tesla's chairman, a position he has held since 2004—four years before he also assumed the CEO job.