Tesla appoints two new directors
Tesla Inc. has announced today the appointment of two new directors to its board, increasing its size to nine, including James Murdoch, former Chief Executive at 21st Century Fox.
July 17, 2017 – Reuters
Linda Johnson Rice, who heads Ebony Magazine publisher Johnson Publishing Co, was the other director named to the board.
Earlier this month, the company’s investors approved all five of its proposals, including one that shot down a move to make its directors stand for re-election each year.
Connecticut Retirement Plans and Trust Funds had urged fellow Tesla shareholders to vote for a proposal aimed at the declassification of the company’s board, arguing that “annual accountability can lead to increased company performance.”
Tesla, led by Elon Musk, has been betting big on its mass-market Model 3, the first deliveries of which are expected to begin next week.
Tesla shares were slightly down after the bell on Monday.