Tesla shareholders broadly follow board recommendations at annual meeting
Tesla Inc shareholders voted in line with board recommendations on most issues at the company’s annual meeting on Thursday, reelecting directors, approving a stock split and rejecting a number of proposals focused on environmental, social and governance issues.
Votes on three of 13 proposals did not follow board recommendations, according to preliminary tallies presented at the annual shareholder meeting in Austin, Texas.
Over board opposition, shareholders passed an advisory proposal that would increase investors’ ability to nominate directors, and two board proposals did not receive supermajorities necessary to pass.
Those two proposals concerned cutting directors’ terms to two years and eliminating supermajority requirements.
(Reporting by Ankur Banerjee and Akash Sriram in Bengaluru; additional reporting by Peter Henderson in Oakland and Kevin Krolicki in Detroit; Editing by Anil D’Silva)
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