Tesla Investors Fail to Back Pair of Company-Supported Proposals
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Tesla Inc. investors voted against proposals to allow board directors to serve two-year terms and to eliminate supermajority voting requirements, dealing the company’s management a setback.
The initiatives to shorten director terms to two years from three and also to shift to a simple majority of votes did not receive support from enough shareholders, Martin Viecha, Tesla’s head of investor relations, said Thursday at the company’s annual meeting, citing preliminary results.