3 ms·

Don't the shareholders elect the board members?

• lmm 3y ago
  Up to a point. Tesla has a staggered board, which is well-known as a technique for making it hard for shareholders to control the board, and in general it's very rare for shareholders to vote board members out even in companies with more shareholder-friendly charters. Support for Tesla's directors in their most recent election was well below the median, partly because ISS had recommended voting against them (which is again unusual), but didn't reach the level of removing them.
  • anonym29 3y ago
    I didn't realize it wasn't as cut and dry as a simple majority vote among shareholders, thanks for teaching me something new :)