A $774 billion investment giant is ramping up calls for a Tesla board shakeup — one that goes far beyond what the SEC wants (TSLA)
- Tesla has until the end of November to add two independent directors to its board, as per a $40 million settlement with the Securities and Exchange Commission.
- CtW Investments and elected officials from three states are urging the company to go above and beyond the legal requirements in order to protect investors.
- Five of Tesla’s eight directors currently have close ties to CEO Elon Musk, the letter says, despite meeting the legal requirements for independence.
Tesla should go beyond the board changes required by its settlement with the US’ top stock market regulator, a group of investors and