Archive · 31 May 2025
Tesla Shareholders Demand Action to Address Elon Musk's Focus
Tesla's biggest investors are worried about the company and its boss, Elon Musk.
They sent a letter to the board with a list of things they want to see happen.
First, they want Musk to spend at least 40 hours a week working for Tesla.
They are worried Musk is too busy with other projects.
Second, they want a plan in case Musk can't run Tesla anymore.
Third, they want the board members to focus more on Tesla and less on other companies.
Finally, they want people on the board who are not connected to the existing members.
The investors are concerned about falling sales and Musk's outside ventures, which have negatively impacted Tesla.
Major Tesla shareholders have sent a letter to the board demanding action due to concerns about the company's direction.
Shareholders are requesting Elon Musk commit to a minimum 40-hour work week at Tesla.
They are also calling for a clear CEO succession plan in case Musk becomes unavailable.
Shareholders want to limit the external business commitments of Tesla board members.
The group is pushing for the appointment of truly independent board members.
- Who
- Major Tesla shareholders, including pension funds and state treasurers, and Elon Musk.
- What
- Shareholders are demanding actions from Tesla's board, including a minimum 40-hour work week for Musk and a succession plan.
- When
- Shareholders sent a letter recently; Musk's DOGE tenure concluded earlier this week.
- Where
- Tesla
- Why
- To address concerns about Musk's divided attention, declining sales, and plummeting brand reputation.
Shareholders
Tesla's Board (Implicitly)
Elon Musk's Time Commitment
Shareholders
Musk needs to dedicate at least 40 hours per week to Tesla, according to the shareholders.
Tesla's Board (Implicitly)
The board has not publicly commented, but the current situation suggests the board has allowed the current situation.
Board Independence
Shareholders
Shareholders want more independent board members without personal ties to existing members.
Tesla's Board (Implicitly)
The board has not responded yet, but they recently appointed a director who has potential conflicts of interest.
- Shareholders Involved
- Pension funds, American Federation of Teachers, state treasurers from New York, Oregon, and Illinois
- Demands
- Minimum 40-hour work week for Musk, clear CEO succession plan, limit external commitments of directors, appoint independent board members
- Tesla Stock Performance
- Down 12% this year
- European Sales Decline (April)
- Nearly 50% compared to previous year
- Axios Harris Poll Ranking
- Tesla dropped from 8th to 95th