A group of Tesla investors including big pensions and institutions are calling for the board to rein in Elon Musk
A group of Tesla investors including pension systems and big institutions are concerned Elon Musk is too distracted to properly run the company, and have called on the Tesla's board to rein in the CEO. sent on Friday, the group of 17 major shareholders, including the New York City Comptroller's Office, which oversees the city's $242 billion pension system, and asset management giant Nordea, said they have grown concerned that Musk is not properly focused on Tesla.
"We are concerned that the Board of Directors is failing to adequately represent the interests of Tesla's shareholders," the letter reads."Corporate boards can and should intervene if a chief executive appears to be distracted or overly focused on other ventures. Yet, the Board has permitted Elon Musk to run multiple companies, leading to an inability to address the multiple strategic and competitive issues facing Tesla.
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