On September 28, according to foreign media reports, the election of three directors was one of the topics during Tesla’s annual shareholders meeting last week. Judging from the documents submitted by Tesla, they nominated Musk and other three , Has been re-elected as a director for a three-year term.
In a document submitted to the US Securities and Exchange Commission, Tesla disclosed that three directors were re-elected, namely CEO Elon Musk, Chairman Robin Deholm and Mizuno Hiromitsu.
Among these three, Musk and Robin Dholm were re-elected after their terms of office expired . Musk became a Tesla director in 2004 and was re-elected many times. Robin Dholm was elected in August 2014. Joined Tesla’s board of directors and re-elected with Musk in 2017.
Mizuno Hiromitsu is the former chief investment officer of the Japanese pension fund. He was appointed as a director in April this year. This time he needs to be elected by shareholders at the annual general meeting.
Musk is re-elected as a director, which means that he is expected to become Tesla’s chairman again during this term.
In August 2018, Musk posted on Twitter that he was considering privatizing Tesla, which resulted in him being sued by the US Securities and Exchange Commission. The two parties subsequently settled. Musk was fined $20 million and resigned from Tesla. The chairman of the board shall not serve again within three years. Robin Deholm therefore succeeded Musk as chairman of Tesla in November 2018.
Counting from November 2018, the three years are from November 2021. Musk’s new three-year term as a director is until 2023. During this term, he is eligible to become Tesla’s again. Chairman, the two positions of chairman and CEO are one.
However, whether Musk can become Tesla’s chairman again during the three-year term of directors still needs a decision by the shareholders meeting. Tesla and the U.S. Securities and Exchange Commission jointly submitted documents to the court in October 2018 that if Musk wants to become chairman again after three years, shareholders must vote for approval.