Tesla's Growing Investor Revolt

Despite the stock's meteoric rise, shareholders are pushing back against Tesla's management and board

Tom Lauricella 20 October, 2021 | 9:39AM Leslie Norton
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Tesla (TSLA) shares have skyrocketed by more than 1,400% over the past three years, but that doesn't mean its shareholders are entirely happy with the company's management.

There's a growing shareholder revolt around Tesla's handling of employees, diversity, and its board of directors that played out at its most recent company meeting. If it weren't for Elon Musk's control of 22% of the company's stock, four out of five shareholder resolutions would have passed at the annual meeting despite the opposition of Tesla's board, according to Morningstar research. In addition, board member James Murdoch would nearly have lost his seat without Musk's votes.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Tesla Inc1,084.60 USD0.00Rating

About Author

Tom Lauricella  is Editor of Morningstar Direct