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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmalgamated Bank's Frishberg: Bullish on Tesla's sustainability, but concerned about governanceIvan Frishberg, Amalgamated Bank chief sustainability officer and long-time Tesla investor, joins 'Money Movers' to discuss what Elon Musk's pay package approval says about his shareholder base, if Tesla's a discretionary own, and more.
Persons: Ivan Frishberg Organizations: Amalgamated, Amalgamated Bank, Elon
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla's governance problem is a growing concern: Amalgamated Bank's Ivan FrishbergIvan Frishberg, Amalgamated Bank chief sustainability officer and long-time Tesla investor, joins 'Squawk on the Street' to discuss the company's recent letter to Tesla concerning management and performance, why the bank's concerned with Tesla's workplace culture, and more.
New York CNN —A group of progressive Tesla shareholders want the company’s board of directors to make CEO Elon Musk concentrate more on one of his many jobs, that of running the EV automaker. In addition to his role at Tesla (TSLA), Musk also leads Twitter, SpaceX, the Boring Company, and Neuralink, among others. The letter says that the investors signing the letter own $1.5 billion worth of Tesla shares, which represents well less than 1% of Tesla shares. By comparison, Musk owns or has options to purchase about $118 billion worth of Tesla shares, representing 20% of the stock. “Tesla needs a board that will ensure that the CEO is focused on addressing its challenges,” said the letter.
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