More Troubles for Tesla

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·@metatron0·
0.000 HBD
More Troubles for Tesla
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A stockholder of Tesla wants Elon Muck removed from the from Chairman position. This comes after many troubles hounding the company in recent weeks. If you may recall, Tesla got into the spotlight after a series of bad news starting with its recall of thousands of cars due to defective parts followed by its failure to meet the production target of its model  3 and its downhill from there.  

A stockholder named Jing Zhao submitted a proposal to split the role of Chairman and CEO:

>“Although the current leadership structure, in which the positions of Chairman and CEO are held by one person, could provide an effective leadership for Tesla at the early stage, now in this much more highly competitive and rapidly changing technology industry, it is more and more difficult to oversee Tesla’s business and senior management (especially to minimize any potential conflicts) that may result from combining the positions of CEO and Chairman,” Zhao wrote in his proposal.

While the likelihood of this happening is very slim, it could be a signal for more scrutiny over the management style and work ethics of the CEO. Big things typically start with small events like this. It could soon gather traction as more and more shareholders are dismayed over the performance of the company.

How long can Elon hold on to power depends on many factors and one of these is his direct ownership. According to csmonitor.com Musk owns 27% of the company. That a huge percentage compared to many other entrepreneurs. Jeff Bezos for example only owns about 17% of Amazon while Zuckerberg owns 20% of Facebook.

It sounds like Mr Jing would have to lift heaven and hell to ouster Elon from Chairmanship. [More here](https://techcrunch.com/2018/04/27/tesla-shareholder-wants-to-remove-elon-musk-from-chairman-position/)
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