>> This is really important for the future of the world.>> Elon Musk has some advice for a group of Tesla investors calling for the company to add independent directors. Go buy Ford stock. Responding to a Reuters article from June, on Twitter Musk writing with tongue in cheek that Ford's governance is amazing and that he was already planning on adding more independent members, but that this group had nothing to do with it.
In a letter dated Monday, five investment groups urged the luxury car maker to appoint directors without ties to chief executive Musk, to quote, provide a critical check on possible dysfunctional group dynamics. As the company expands and shifts it's focus on solely car production to clean energy production, the group expressing concern that, quote, five of six current non-executive directors have professional or personal ties to Mr. Musk, that could put at risk their ability to exercise independent judgement.
The one thing they're likely not complaining about, Tesla recently became the most valuable US car company. And over the past month, it's stock has surged 35%.