Four Tesla directors to leave in governance overhaul | Financial Times

Tesla disclosed that four of its directors are to step down as part of a governance overhaul at the electric car maker, following criticism in recent months of the board’s failure to exert more control over chief executive Elon Musk.

The shake-up was announced late on Friday, and came after the company’s new independent chairwoman, Robyn Denholm, sounded out the company’s biggest investors about what changes they wanted to see.

As part of the overhaul, the company’s lead independent director, Antonio Gracias, who was previously responsible for board oversight of Mr Musk, has handed over his responsibilities to Ms Denholm with immediate effect, and is expected to leave the board next year.

Source: Four Tesla directors to leave in governance overhaul | Financial Times

One Comment Add yours

  1. Tesla has also agreed to end supermajority provisions, if approved by shareholders. As long as Elon Musk votes as recommended by the board, the measure should pass.

    Liked by 1 person

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