Comment on Tesla Board Opened Search for a CEO to Succeed Elon Musk

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thanksforallthefish@literature.cafe ⁨1⁩ ⁨week⁩ ago

it requires near-90% approval of all non-musk held voting shares to make ‘major’ changes like ousting a board member or ceo.

No, you’re thinking of News Corp and Murdoch’s shenanigans.

Tesla has a standard structure. He doesn’t own a majority of shares, but he does own a significatn percentage and investors aligned with him combined have enough for him not to be at any significant risk.

The directors however have a fiduciary duty to act in the interests of all shareholders, so going through the motions of considering a replacement ticks that box.

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