Shulou(Shulou.com)11/24 Report--

Tesla's board is under increasing pressure to prove that Tesla is ready to lose a key figure like CEO Elon Musk, Beijing time reported on the evening of January 6.

As we all know, Musk is a capricious CEO and the main driving force behind the sharp rise and fall of Tesla's share price. Now, Karen R ó bertsd ó ttir, Tesla's shareholder, has submitted a proposal asking investors to vote at the annual general meeting in May on whether Tesla's board of directors should prepare and maintain a "key person risk" report.

In the proposal, Roberts Dottier called on Tesla to document the succession procedures and processes of key personnel, thereby reducing the potential financial impact on the company after they leave.

"Tesla is widely regarded as a 'key person risk' because of his high CEO position and reputation," Roberts Dottier wrote in the proposal. Even so, Tesla lacks a clear public succession plan or strategy to mitigate the adverse impact of the loss of such a person. So far, this risk has not improved. "

If Roberts Dottier's proposal is passed, it will also provide investors with a practical way to force core executives such as Mr Musk to be more transparent. Investors were worried by Musk's $44 billion acquisition of Twitter and an unprecedented compensation of $55 billion.

The acquisition of Twitter put a lot of pressure on Musk's personal finances, causing him to sell nearly $40 billion worth of Tesla shares, which upset several well-known Tesla investors. Some investors accused Tesla's board of directors of dereliction of duty, while others said Musk bought Twitter at an excessive price.

Tesla shares closed 2.9 per cent lower at $110.34 on Thursday local time. Tesla's share price has fallen more than 70 per cent since Mr Musk disclosed his purchase of Twitter shares in early April last year.

Investors may also learn from a Delaware judge before and after Tesla's annual shareholders' meeting in May whether there was a conflict of interest and improper disclosure in the board's decision to pay Mr Musk up to $55 billion. Investors have filed a lawsuit against it before.

Last November, Tesla directors, including Danhom and James Murdoch (James Murdoch), were asked at the trial whether $55 billion was too much for a part-time CEO (besides Tesla, Musk is the CEO of four other companies).

James Murdoch, son of media mogul Rupert Rupert Murdoch, said Musk had identified a potential CEO successor in recent months, but he did not say who his successor would be.

It is not clear whether the resolution on compensation will be put on the agenda of Tesla's annual general meeting on May 16.

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