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Bloomberg: Tesla Investors Press for Board Members w/o Ties to Musk

Discussion in 'Tesla' started by bonnie, Apr 11, 2017.

  1. bonnie

    bonnie Oil is for sissies.

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    • Informative x 4
  2. EinSV

    EinSV Active Member

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    This is one of those things that sounds good in principle, but given the potential for shenanigans with a company that is disrupting multiple powerful industries is not great for long-term shareholders IMO.
     
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  3. bcampbelllds

    bcampbelllds Member

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    As long as these potential board members are forward thinking and understand the importance of what Tesla and Co. are trying to accomplish, it would be beneficial. Too many Elon worshippers has a negative impact.
     
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  4. FlatSix911

    FlatSix911 918 Hybrid

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    More information posted here ... Tesla is looking for new independent board members, announcement coming ‘fairly soon’

    Tesla responded to the request by saying that they have been looking for new members for “several months”:


    “We are actively engaged in a search process for independent board members, which is something we committed to do several months ago, and expect to announce new additions fairly soon. We regularly engage with our shareholders and value their feedback.”

    upload_2017-4-11_21-28-10.png


     
    • Funny x 1
  5. HabitualUser

    HabitualUser Member

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    This is bad news, and not from an anti-groupthink perspective.

    We all want Elon firmly in control, if only to press forward his vision of the future that so many corporate types can't seem to grasp. A "benevolent dictatorship" can be a good thing. If 2 board seats go to independents, this weakens his control. It seems impossible to imagine now, but events could occur in the future that lead to a CEO change.

    Steve Jobs was ousted from Apple in the mid-1980s, as were other founding visionaries of their companies. The loss of power happens through equity dilution or loss of board seats.
     
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  6. msnow

    msnow Active Member

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    This is a good sign of corporate maturity and governance.
     
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  7. jelloslug

    jelloslug Active Member

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    Tesla is not at that point yet. Once they start turning a solid profit for several quarters in a row, then they can start moving in that direction.
     
  8. msnow

    msnow Active Member

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    Good governance is a shareholder requirement not a profit based requirement. It's hard to argue that a company is making good decisions when it's Board is stacked with friends and relatives.
     
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  9. jelloslug

    jelloslug Active Member

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    Well, most shareholders agree that the direction the company is going right now is fine.
     
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  10. danahull

    danahull Member

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  11. msnow

    msnow Active Member

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    The article points out what most people in corporate governance already know and that is an independent and open Board (one not dominated by the CEO's friends and family members) is better for the long term viability of the company. It's also suppprted by influential investors. It will happen and that is good for us as shareholders and others who want to see Tesla continue to be successful.
     
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  12. jelloslug

    jelloslug Active Member

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    That's why I said that in the future it will be a good idea. Right now though, the company needs firm and decisive direction to keep the momentum to profitability.
     
  13. bonnie

    bonnie Oil is for sissies.

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    No particular names - but hopefully the search will expand beyond Silicon Valley candidates & also be diverse.
     
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  14. Dwdnjck

    Dwdnjck Member

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    I would like no nominate Bonnie.
     
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  15. bonnie

    bonnie Oil is for sissies.

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    Hahah. I think they'll probably be going for a *name*. But thanks :).
     
  16. Dwdnjck

    Dwdnjck Member

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    Bonnie is a perfectly good name.
     
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  17. Skotty

    Skotty 2014 Model S P85

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    I have mixed feelings on this. Any other company, I'd say sure. But Tesla is a different kind of creature that requires big picture thinking that most money grubbers lack.
     
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  18. AudubonB

    AudubonB Mild-mannered Moderator Lord Vetinari*

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    If nominated I will not run;
    If elected I will not serve.



    said Audubon Lord Vetinari never.
     
  19. drinkerofkoolaid

    drinkerofkoolaid Active Member

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    Anyone think Al Gore is a possible candidate?
     
  20. Dwdnjck

    Dwdnjck Member

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    Elon answered, "Buy Ford"
     
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