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.



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