Tesla, Arthur Levitt Issue Proposals on Board Size as Meeting Scheduled for Oct. 7
August 13 2021 - 5:59PM
Dow Jones News
By Josh Beckerman
Tesla Inc. is proposing reducing the number of board classes
from three to two, resulting in director terms being reduced from
three years to two.
Meanwhile, Arthur Levitt, former chairman of the Securities and
Exchange Commission, is calling for annual election of directors,
saying it would make directors more accountable. In response to Mr.
Levitt's stockholder proposal, Tesla said that with annual
elections, "opportunistic short-term interests could quickly and
significantly alter the makeup and continuity of the Board."
Tesla said its annual meeting will take place Oct. 7 at its
Fremont factory in California.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
August 13, 2021 17:44 ET (21:44 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Tesla (NASDAQ:TSLA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Tesla (NASDAQ:TSLA)
Historical Stock Chart
From Apr 2023 to Apr 2024
