Tesla's board of directors announced the annual general meeting will be held on November 6, significantly later than the required July 13 deadline under Texas law. This delay has faced criticism from corporate governance experts, particularly Charles Elson, who emphasizes that shareholder voting is a fundamental aspect of capital formation. Elson points out that the company's failure to hold an annual meeting on time reflects a lack of accountability to shareholders. Institutional investors representing $1.5 trillion raised concerns over the delay just before the announcement was made.
"They can't even have an annual meeting annually? That's ridiculous-it's almost expressing a contempt for lawful and accepted procedure."
"Shareholder voting is a core principle in our system of capital formation, and if you abrogate that, then you punch a hole in the system itself."
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