Tesla Shareholder BlackRock Voted To Replace Musk With An Independent Chairman

[Adam Varga + 123]

While the public grumblings over whether Elon Musk is qualified to lead Tesla, have been growing in recent weeks in the aftermath of the CEO's increasingly erratic public behavior and statements, the world's largest asset manager, BlackRock, voted for a shareholder proposal to replace chairman Musk with an independent director. A BlackRock filing with the SEC showed that BlackRock-managed funds voted for a measure requiring the board chairman to be an independent director. More than 86 million shares voted against the proposal at a shareholder meeting in June, while fewer than 17 million voted in favor, but today is the first time that it emerged that BlackRock was one of the entities voting for. The proposal would not have affected Musk's standing as Tesla's CEO.

[BlackTortoise + 103]

BlackRock has guidelines with a section on voting to separate the CEO nad Chairman roles. They favor that in general. It's not that they are just picking on Musk, they are just showing that they think Tesla has a weak corporate governance.

[Sofia + 35]

Musk may be creative, and a good inventor, but bad businessman. 
 

[Stormysaga + 62]

Musk too erratic to be chairman. I know there are some that would say that it's his mystique that makes Tesla what it is but man you cannot have guys like this running a company that's publicly traded, he opens up the company to all sorts of suits because you don't know what follows next. 

[Vlad Kovalenko + 115]

Already tried with Steve Jobs. And a large source of creativity was lost when he left though.