It’s not just executives leaving Tesla in droves. Now, it’s the board members too.
No sooner did the news break that Elon Musk and the SEC needed extra time to renegotiate their contempt settlement, than another absolute bombshell has just dropped: four – yes, count them – four members of Tesla’s board are expected to be going the way of CFO Deepak Ahuja and leaving the company by next year’s annual general meeting.
The company’s proxy was filed during the Good Friday holiday, in which the market is closed, at about 6PM EST.
It reads:
“…on April 18, each of Brad Buss, Antonio Gracias, Stephen Jurvetson, and Linda Johnson Rice agreed collectively with the Board and its Nominating and Corporate Governance Committee that each of them will not stand for re-election to the Board”
Notably absent from the departures are puppet Board Chair Robyn Denholm and Larry Ellison.
Meanwhile, now-departing board member Antonio Gracias has been a topic of discussion in the Tesla-sphere in 2019 for other reasons: notably, he has been selling a ton of stock. Most recently, he filed a perplexing Form 144 sale.
In fact, this was the joke on Twitter just days ago. Now, it looks like it may have been dead-on:
BREAKING: MUSK TELLS THE SEC ANTONIO GRACIAS NEEDS MORE TIME TO SELL STOCK$TSLA $TSLAQ
— passthebeano (@passthebeano) April 18, 2019
It has been one thing to comment about significant employee turnover at the company, which we have done at length. It is another to hear that four members of the company’s board have now planned dates for making their exit. Though we are sure the company may position this as revamping the board for legitimacy purposes, we can’t help but think that the rats could be finally fleeing the ship.
via ZeroHedge News http://bit.ly/2UMUgPe Tyler Durden