Tesla shareholders reject the proposal to change the super majority voting system to a simple majority

www.techweb.com.cn/world/2019-06-12/2...

[TechWeb] June 12 news, according to foreign media reports, at the annual general meeting of shareholders held on Tuesday, Tesla shareholders rejected the proposal to improve the governance of the company, Tesla CEO Muskin claimed that the plan The company was privatized and accused by the regulator of misleading investors.

Tesla

Tesla

The proposal to shorten the term of office of directors from three to two years failed to be voted by a majority of shareholders; another proposal by the board of directors was to change the super-majority voting system to a simple majority voting system, (Simple Majority), but the proposal was not approved.

The super majority voting system stipulated in the articles of association of Tesla requires the consent of 2 / 3 shareholders through major decisions. And the simple majority voting system requires more than 50%.

Foreign media said that, due to Musk's ownership of about 25%of Tesla shares, 89.5%of external shareholder support is required if a decision is not supported by Mask, and the threshold is very high.

On Tuesday, Tesla's share price rose by 1.98% to $217.1, with a total market value of about $377.15 billion.

Tesla shareholder veto super voting system changed to simple proposed

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