Madhya Pradesh

Rajasthan

Poll in 1 seat deferred

Chhattisgarh

Telangana

Mizoram

»
1-min read

Tesla's Board Against Proposal to Require Independent Chairman

Elon Musk, chief executive of Tesla, is also the chairman of its board and owns a 20 percent stake in the company.

Reuters

Updated:April 30, 2018, 3:08 PM IST
facebookTwittergoogleskypewhatsapp
Tesla's Board Against Proposal to Require Independent Chairman
Tesla logo. (Representative image: Reuters)
Loading...
Tesla Inc's board recommended on Thursday that shareholders vote against a proposal that would require the electric car maker's chairman to be an independent director, ahead of its annual meeting. Elon Musk, chief executive of Tesla, is also the chairman of its board and owns a 20 percent stake in the company. In an SEC filing, the board stated that its structure is consistent with majority practice at large public companies and it already has seven independent directors. The filing identified the individual who submitted the proposal as Jing Zhao of Concord, California, who said he is the beneficial owner of 12 shares of Tesla's common stock.

Also Watch:

 
The board also mentioned that Musk already holds senior positions as the chairman of SolarCity and Space X, where he is also the CEO. Tesla is set to hold its 2018 annual meeting of stockholders on June 5.
(Get detailed and live results of each and every seat of the state Assemblies in Madhya Pradesh, Rajasthan, Telangana, Chhattisgarh and Mizoram to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you put on the psephologist's hat. Know interesting facts and trivia about the elections. Elections = News18)
| Edited by: Manav Sinha
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results