Tesla Plans to Shrink Board
April 22, 2019—Tesla said on Friday that four members of its 11-member board would be leaving over the next two years, reported CNBC.
Brad Buss, Antonio Gracias, Stephen Jurvetson, and Linda Johnson Rice will not be standing for re-election in the upcoming annual meetings of stockholders in 2019 and 2020.
Tesla said the decision did not result from any disagreement between the company and the directors.
The proposed changes in the board come a couple of weeks after Elon Musk’s position as the chief executive officer of Tesla was secured after a federal judge urged the billionaire to settle contempt allegations by the U.S. Securities and Exchange Commission over his use of Twitter.