Elon Musk spars with investors who want independent Tesla board

Elon Musk spars with investors who want independent Tesla board

Tesla Motors CEO Elon Musk unveils the company's newest products in Hawthorne, Calif.

In separate tweets, Musk suggested that he's already recognized the need to bring two more independent voices on the company's board, which currently includes his brother, Kimbal, and other close supporters.

"Besides, I already said we'd add more independent members," after the company acquired SolarCity, he said. "Will announce soon, but this group has nothing to do with it."

The spat comes at a peculiar time for Tesla, which on Monday briefly passed General Motors as the nation's most valuable automaker when measured by total stock value.

The investment group cited several looming challenges as reasons to add more independent directors, including Tesla's consistent losses, the start of battery production at a plant in Nevada, the integration of SolarCity and the task of launching production of its Model 3 mass-market electric vehicle. The group also called on Tesla to elect all of its directors annually instead of on a staggered basis.

"As Tesla evolves from a pure electric vehicle producer to a clean energy company, the board’s makeup needs to change to reflect its new business focus," the investors said.



Add Comment

all comments

  Other news

more
Wrong time for interest rate rise, Cunliffe warns

Wrong time for interest rate rise, Cunliffe warns..

28-Jun, 06:12

Bank of England deputy governor Sir Jon Cunliffe has joined the debate...

Theresa May will not last much longer as British PM, Citigroup warns clients

Theresa May will not last much longer as British PM, Citigroup warns clients..

28-Jun, 07:48

Clients should brace themselves for the downfall of UK Prime Minister...

Fecal bacteria found in drinks sold by UK’s top three coffee chains

Fecal bacteria found in drinks sold by UK’s top three coffee chains..

28-Jun, 09:00

Traces of fecal bacteria have been found in drinks sold by Britain’s...

Stagecoach hit by Virgin East Coast rail line woes

Stagecoach hit by Virgin East Coast rail line woes..

28-Jun, 08:13

Rail and bus operator Stagecoach Group has reported a 15.3% drop in...

The latest from the Shanghai auto show

The latest from the Shanghai auto show..

19-Apr, 05:08

The latest from Auto Shanghai 2017 (all times local): 5:30 p.m. Ford...

Kathy Griffin breaks down: Trump 'broke me'

Kathy Griffin breaks down: Trump 'broke me'..

02-Jun, 15:21

A tearful Kathy Griffin spoke out in response to backlash after she...

EU's foreign policy chief begins tour of Western Balkans

EU's foreign policy chief begins tour of Western Balkans..

01-Mar, 08:47

The European Union's foreign policy chief says stability in the volatile...

Texts revealed during trial of young woman accused of encouraging 18-year-old to commit suicide

Texts revealed during trial of young woman accused of encouraging 18-year-old to commit suicide..

07-Jun, 22:43

Two months after Michelle Carter's 18-year-old then boyfriend Conrad Roy...