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Tesla shareholders express displeasure with corporate management

2021-10-14T07:15:13.430Z

Tesla shareholders have always looked happier. They re-elected the brother of CEO Musk and another executive member with poor results and want more engagement against internal racism.



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Tesla charging station in California

Photo: PATRICK T. FALLON / AFP

At the recent shareholders' meeting of the US electric car pioneer Tesla, there is growing dissatisfaction among shareholders with the company's management.

According to the documents submitted, the two directors standing for election this year had to accept a setback.

James Murdoch and Kimbal Musk, the brother of CEO Elon Musk, received less support than last year with 70 and 80 percent of the vote, respectively.

The directors of large US corporations can usually rely on at least 90 percent approval.

(Read more about Tesla and Musk in this SPIEGEL cover story)

Dissatisfaction was also evident in support for an internal compulsory arbitration procedure to resolve complaints about harassment and discrimination in the workplace.

A non-binding shareholder resolution on this received 46 percent of the votes cast at the annual general meeting.

In the previous year, a similar proposal had only received 27 percent.

Tesla did not comment on the shareholders' vote.

The topic of discrimination at Tesla has recently become more of a focus.

Last week, a US jury awarded a Tesla contractor $ 137 million for racism in the workplace.

dab / Reuters

Source: spiegel

All business articles on 2021-10-14

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