Tesla plans to shrink its board from 11 to 7 directors over this year and next, with three longtime allies of CEO Elon Musk departing
Tesla Inc. said it would shrink its board from 11 to seven directors over this year and next, with three longtime allies of Chief Executive Elon Musk planning to step down along with one of the auto maker’s newer independent members.
The proposed changes, revealed in a proxy filing Friday, continue the gradual changes made by Tesla to bring more oversight to a board that has faced scrutiny from investors and advocates who say it lacks independence. The planned moves follow a settlement with the Securities and Exchange Commission...
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