Investor Group Calls for Changes at Tesla Inc (TSLA)

A group of Tesla Inc (NASDAQ:TSLA) investors want to see some changes at the company, and they have dropped a letter in a bid to make it happen.

Marketwatch has the details.

A group of Tesla Inc. shareholders, including several U.S. state investment officials, called on the company’s board to make sweeping changes to its governance to enhance oversight of Chief Executive Elon Musk.

In a letter sent Thursday to three Tesla TSLA, +0.01% directors, the shareholders said Tesla’s board should create a plan to refresh its membership and to set time lines for some directors to leave, among other demands. The letter also said the board should permanently separate the positions of chairman and chief executive, both of which Musk has long held.

The letter was sent by by CtW Investment Group, as well as officials from pension funds representing a number of different states. No comment has been forthcoming from Tesla as of yet.

Tesla Inc shares were trading at $345.25 per share on Friday morning, up $0.97 (+0.28%). Year-to-date, TSLA has gained 10.89%, versus a 4.21% rise in the benchmark S&P 500 index during the same period.

TSLA currently has a StockNews.com POWR Rating of B (Buy), and is ranked #1 of 25 stocks in the Auto & Vehicle Manufacturers category.