shareholder

Enterprise

Revisiting the Ruling that Led to Tesla’s Crucial Shareholder Vote

There has been a silly amount of drama in the run-up to Tesla‘s annual shareholder meeting on Thursday. It will also hold a vote whether the company will change the location where it is incorporated from Delaware to Texas. Some of Tesla’s biggest boosters are calling on the company’s “retail army” of shareholders to vote in favor of both, but with special focus on Musk’s compensation. “A deal is a deal,” Tesla posted to its CEO’s social media platform X. At the very least, it’s a primer for the legal battles that are sure to continue after Thursday’s vote.

Kira Kim
June 12, 2024

Enterprise

Exxon’s Temper Flares as Shareholders Exercise Their Rights

Top executives report to the CEO, the CEO answers to the board, and the board serves at the whim of the shareholders. On Sunday evening, the oil supermajor filed a lawsuit in federal court asking for permission to ignore a shareholder resolution at its next annual meeting. The new shareholder resolution calls on the oil company to reduce its Scope 3 emissions or those that result from the use of its products. Other shareholders tended to be deferential to management, letting them run their business as they saw fit. But as shareholder primacy took root in the public consciousness, more shareholders began to exercise their rights.