:Tesla Inc on Thursday nominated co-founder and former Chief Technology Officer JB Straubel to the board amid concern among some investors that the electric carmaker led by Chief Executive Elon Musk lacks succession planning.
The appointments come as Tesla investors worry that Musk's acquisition and leadership of Twitter, which he bought for $44 billion last year, could stretch the billionaire thin and distract him from running the carmaker. Tesla shareholders are set to vote on May 16 on an investor proposal for the company to publish a report on"Key-Person Risk", reflecting concerns that the carmakers relies too heavily on Musk's leadership. The proposal seeks to identify"key persons and actions to ameliorate the impacts of their potential loss.
If elected at the annual meeting on May 16, Straubel would succeed Hiromichi Mizuno, who will not stand for re-election.
Source: Car News Wire (carnewswire.net)
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