Tesla Motors Inc (TSLA) Investor Group Demands More Changes

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Tesla Motors Inc (TSLA) Investor Group Demands More Changes
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An investor group called on Tesla Motors Inc (NASDAQ:TSLA) on Tuesday to add two independent directors to its board. CtW Investment Group asked the automaker to separate the roles of chief executive and chairman as it underlined the dominance of Tesla CEO and founder Elon Musk in the wake of the proposed bid for SolarCity. Musk is also the largest shareholder and chairman of SolarCity.

CtW demands five assurances

CtW works with union-based pension funds and holds 200,000 shares of the U.S.-based electric car company. In a letter to the EV firm, CtW demanded the implementation of five steps that it says would remedy Tesla’s underlying governance deficiencies.

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