5

Life After Elon Musk: Tesla’s Board Takes Heat Over CEO Succession Planning

 1 year ago
source link: https://finance.yahoo.com/news/life-elon-musk-tesla-board-180054254.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.

Life After Elon Musk: Tesla’s Board Takes Heat Over CEO Succession Planning

Dana Hull and Jef Feeley
Fri, January 6, 2023, 3:00 AM GMT+9·6 min read
694ebfcd070abca24104d0d0807b24db
Life After Elon Musk: Tesla’s Board Takes Heat Over CEO Succession Planning

(Bloomberg) -- Tesla Inc.’s board of directors is facing mounting pressure to prove just how prepared they are for the potential loss of Elon Musk, the erratic chief executive officer largely behind the breakneck rise and dramatic fall in the company’s valuation.

Most Read from Bloomberg

Karen Róbertsdóttir, a shareholder in Reykjavik, Iceland, has submitted a resolution for Tesla investors to vote in May on whether the board should prepare and maintain a key-person risk report. Several other shareholders who wanted to put forward proposals — at least one of which also pertained to Musk — are frustrated with the rollout of Tesla’s annual-meeting plans, saying it spared directors from even more heat.

If Róbertsdóttir’s motion makes it onto Tesla’s proxy, it would give investors a tangible way to force Tesla to be more forthcoming about an area of concern that’s been growing since Musk’s takeover of Twitter Inc. The carmaker’s directors designed an unprecedented pay package years ago that seeded the CEO with the means to agree to the $44 billion deal just as social media and technology company shares were beginning to plunge.

Twitter’s strain on Musk’s personal finances — he recently became the first person ever to lose $200 billion of net worth — and his sale of almost $40 billion of Tesla shares amid months of impulsive tweeting have aggrieved several prominent Tesla investors. One accused the eight-member board of having been missing in action, while another mixed it up with Musk on the social media service he overpaid for.

Tesla’s investor relations representatives and board chair Robyn Denholm didn’t respond to multiple requests for comment. The electric-car maker disbanded its communications team in 2019.

Recommended Stories
  • b5851f647039f89a7861c673fb865b7b.cf.webp
    Reuters

    Former NATO boss urges countries to show China consequences if it attacks Taiwan

    Democratic countries should make it clear the "severe economic consequences" China would face should it move against self-governed Taiwan, the former NATO secretary-general said during a visit to the island on Thursday. China, which claims Taiwan as its own despite strong objections of the democratic island, has been ramping up pressure on Taiwan to assert its sovereignty claims, including almost daily Chinese air force missions near the island over the past three years. Anders Fogh Rasmussen drew a parallel between Russia's invasion of Ukraine and China's military aggression towards Taiwan, saying democratic countries must work in unity to ensure an Ukraine victory in order to deter a Chinese attack on Taiwan.

    1d ago
  • 41e6ca20860889a5341846e33112354e.cf.webp
    Associated Press

    EXPLAINER: Is China sharing enough COVID-19 information?

    As COVID-19 rips through China, other countries and the World Health Organization are calling on its government to share more comprehensive data on the outbreak. Without basic data like the number of deaths, infections and severe cases, governments elsewhere have instituted virus testing requirements for travelers from China. Of greatest concern is whether new variants will emerge from the mass infection unfolding in China and spread to other countries.

    1h ago
  • 77d31cfd828aa863bcbff42d83ca010a.cf.webp
    Miami Herald

    COVID cases are ticking up. Where can you get a bivalent booster in South Florida?

    Do you know someone who got sick during the holidays?

    2d ago
  • 6e5e7235e9a0bc820d9c7e6e2205745c.cf.webp
    The Telegraph

    We’ve made 150pc on this stock – it’s time to cash in

    Rapidly rising interest rates should theoretically prompt a fall in merger and acquisition activity.

    2h ago
  • a6e34530925381d7a165269475494aa7.cf.webp
    AZCentral | The Arizona Republic

    Katie Hobbs' job is to set the tone for Arizona government. So far, she has failed

    Katie Hobbs promised transparency, but her inauguration has been shrouded in secrecy. Is this really how she intends to govern Arizona?

    2d ago
  • c0bf7e82a9b16f00c0c3a7e4510315c6.cf.webp
    Bloomberg

    Taiwan Wants to Join WTO Talks on China’s Protest Against US Chip Sanctions

    (Bloomberg) -- Taiwan has asked to join discussions centered on China’s protest against US chip sanctions at the World Trade Organization, seeking a voice on a debate that could have ramifications for the global chip industry.Most Read from BloombergWhat We Know About the ‘Kraken’ Covid Variant XBB.1.5 and Why It’s Causing ConcernIf You Have Student Loans, Mark These Dates on Your CalendarUS and Germany to Send Ukraine Armored Vehicles in Major Arms UpgradeTrump’s Troubles Mount as Special Couns

    6h ago
  • 0d6108c54b62389d20f2c81121f48f7e.cf.webp
    Reuters

    China defends its COVID response after WHO, Biden concerns

    BEIJING/SHANGHAI (Reuters) -China defended on Thursday its handling of its raging COVID-19 outbreak after U.S. President Joe Biden voiced concern and the World Health Organisation (WHO) said Beijing was under-reporting virus deaths. The WHO's emergencies director, Mike Ryan, said on Wednesday that Chinese officials were under-representing data on several fronts, some of the U.N. agency's most critical remarks to date. China scrapped its stringent COVID controls last month after protests against them, abandoning a policy that had shielded its 1.4 billion population from the virus for three years.

    1d ago
  • 9eb81e50cd36049a316d46f9cce938a9.cf.webp
    The Telegraph

    Nicola Sturgeon's proposed ban on conversion therapy 'would be unlawful'

    Nicola Sturgeon's proposed ban on conversion therapy for gay and bisexual people in Scotland would be unlawful, an eminent lawyer acting for a Christian charity has warned ahead of an expected court battle.

    14h ago
  • a80b63508cad90825004da5e22ffc891.cf.webp
    Seventeen

    So, “Wednesday” Might Not Be Leaving Netflix After All

    The beloved Tim Burton series premiered on the streaming platform, but some believed it may be moving to another one.

    2d ago
  • eef07da17b6a922db045384b4fa74599.cf.webp
    Fortune

    Loyal Elon Musk fan Cathie Wood swims against prevailing currents to scoop up more Tesla shares for ARK Invest

    Arguing the stock still has “miles to run,” the devout Christian’s unwavering conviction in the polarizing CEO saw her buy when everyone else was looking to sell.

    2d ago
  • 01d35cba955b7416b642d047451b8830.cf.webp
    Bloomberg

    North Korea Drone Last Week Entered No-Fly Zone in Central Seoul

    (Bloomberg) -- A North Korean drone in late December violated a no-fly zone close to South Korea’s top government office, a move that weighed on President Yoon Suk Yeol’s consideration of scrapping a 2018 border agreement his administration has accused Pyongyang of breaching. Most Read from BloombergWhat We Know About the ‘Kraken’ Covid Variant XBB.1.5 and Why It’s Causing ConcernIf You Have Student Loans, Mark These Dates on Your CalendarUS and Germany to Send Ukraine Armored Vehicles in Major

    1d ago
  • f8c15c321978deff4989a60871efdad9.cf.webp
    LA Times

    Southern California storm front brings rains, strong winds and helicopter rescues

    The most recent storm pounded the Southland, closing piers and eroding beaches, and spurring water rescues and some evacuation orders.

    16h ago
  • b03d1270-8c78-11ed-bdff-5e186e39d5b9.cf.webp
    Yahoo Finance Video

    New car buyers should be patient as ‘incentives climb throughout 2023’: Expert

    CoPilot CEO Pat Ryan joins Yahoo Finance Live to discuss the state of the auto market, the demand for used and new cars, GM overtaking Toyota as the top automaker in the U.S., how CoPilot is helping prospective car buyers, and the outlook for the auto market going into the new year.

    1d ago
  • 14fae3ea35ab0ee77fbfb22029002f9d.cf.webp
    Reuters

    China's CanSino reports 'positive' interim data from COVID mRNA booster trial

    HONG KONG/LONDON (Reuters) -China's CanSino Biologics Inc reported on Thursday "positive" interim data from its experimental COVID-19 mRNA booster vaccine in a mid-stage clinical trial, as the country races to tame a severe outbreak of infections. Infections have spiralled since China abandoned its strict "zero COVID" policy last month after protests against tight restrictions placed on its citizens.

    17h ago
  • 597781aab4a7d5a93e039b56aa510536.cf.webp
    Ukrayinska Pravda

    Zelenskyy to Russians: Free yourself from fear of one person at least for Christmas

    President of Ukraine Volodymyr Zelenskyy has addressed the Russians and called on them to find the courage to free themselves, at least for Christmas, from their shameful fear of one man in the Kremlin who is destroying their country.

    11h ago
  • fabbd368716617f37b999c7ee20d1db8.cf.webp
    Ukrayinska Pravda

    Danilov on Russian "truce": take away your junk, no negotiations

    Ukraine will not hold any negotiations with Russia regarding the so-called Christmas ceasefire. Source: Oleksii Danilov, Secretary of the National Security and Defence Council of Ukraine, on Twitter; his comment on the air of the national 24/7 joint newscast Quote: "And to whom are they [Russia - ed.

    14h ago
  • 981e4bf9a0b110ab0a46841ca6e7b9e7.cf.webp
    Gizmodo

    Turn Your Home Into a Vegas Casino With Arcade1Up's First Slot Machine

    Walking through a Las Vegas casino is an assault on the senses, with rows and rows of slot machines packed with lights and speakers designed to lure in players. One of the most popular, which seems to be everywhere in sin city, is a machine based on the iconic game show, Wheel of Fortune, which Arcade1Up has now turned into a home version.

    2d ago
  • 2bfb15205e53c67cadbe4bdc6f09eefc.cf.webp
    People

    When Will Avatar: The Way of Water Will Be Available to Stream on Disney+?

    Avatar: The Way of Water premiered on Dec. 16, 2022, and is currently exclusive to theaters

    12h ago
  • e6263977b37c9afd6dc456b871b20417.cf.webp
    People

    T.J. Holmes and Marilee Fiebig Are Seeking to End Marriage as 'Expeditiously and as Amicably as Possible': Rep

    Marilee Fiebig's attorney also shared that her client "looks forward to new beginnings in the new year"

    2d ago
  • 0ab5d94463ce718c98bbb8aec8556e13.cf.webp

    Will we have a new 007 soon? Aaron Taylor-Johnson has reportedly met with 'James Bond' producers

    James Bond producers Barbara Broccoli and Michael G. Wilson may have found their next 007 — or at least a promising frontrunner. According to a report from Puck's Matthew Belloni, the curators of the multi-billion dollar franchise recently enjoyed a successful meeting with Bullet Train and Kraven the Hunter star, Aaron Taylor-Johnson, who is purportedly one of the prime candidates to inherit the role of MI6's gentleman spy from Daniel Craig (the latter officially closed out his globe-trotting te

    2d ago

About Joyk


Aggregate valuable and interesting links.
Joyk means Joy of geeK