Tesla Inc.’s board of directors is facing pushback over a plan to reelect its chair and add a former executive to the board at its May 16 annual meeting, with leading proxy advisers raising doubts about their suitability.
Shareholders should vote against the reelection of Chairwoman Robyn Denholm due to governance concerns, proxy advisory firm Institutional Shareholder Services said in a report. Denholm, who is head of the audit committee, hasn’t effectively managed risks posed by Tesla executives using their stock as collateral for other loans and investments, ISS said.
Robyn Denholm
Photographer: Hilary Wardhaugh/Bloomberg
Glass Lewis & Co., another influential adviser, ...
