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Tesla Board Opposition Builds as Proxy Firm Slams Bad Governance
- Glass Lewis recommends voting against three directors
- Adviser also is in favor of independent chairman proposal
Tesla's Musk Announces 'Thorough Reorganization' Amid Executive Defections
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Tesla Inc.’s board is coming under more criticism, with the world’s second-biggest proxy adviser siding with investors that oppose the re-election of three directors and want the company to appoint an independent chairman.
Shareholders should vote against Antonio Gracias, Tesla’s lead independent director; Kimbal Musk, the brother of Chief Executive Officer Elon Musk; and James Murdoch, CEO of Twenty-First Century Fox Inc., Glass Lewis & Co. said in a report. The firm also believes the electric-car maker’s investors would be better served by separating the chairman and CEO roles that Musk has held for at least the last decade.