Tesla adds two to board, including James Murdoch

Tesla adds two to board, including James Murdoch

Denis Balibouse

Linda Johnson Rice, who heads Ebony Magazine publisher Johnson Publishing Co, was the other director named to the board. (http://bit.ly/2vb5oFq)

Earlier this month, the company's investors approved all five of its proposals, including one that shot down a move to make its directors stand for re-election each year.

Connecticut Retirement Plans and Trust Funds had urged fellow Tesla shareholders to vote for a proposal aimed at the declassification of the company's board, arguing that "annual accountability can lead to increased company performance."

Tesla, led by Elon Musk, has been betting big on its mass-market Model 3, the first deliveries of which are expected to begin next week.

Tesla shares were slightly down after the bell on Monday.

(Reporting by Rishika Sadam in Bengaluru; Editing by Anil D'Silva)

TOP READS FROM THE FISCAL TIMES