Tesla announced the scheduling of its annual shareholder meeting for November, responding to pressure from over 20 major shareholders who demanded action. The decision came a day after a group of investors, including state treasurers and comptrollers from New York, Oregon, Illinois, and Maryland, sent a letter urging the company to set a date, citing legal obligations under Texas law. Tesla, incorporated in Texas, is required to hold its annual meeting within 13 months of the previous one, with the deadline set for July 13, 2025, following the last meeting in June 2024. The announcement, made via a regulatory filing with the Securities and Exchange Commission, did not specify reasons for the delay. The meeting will allow shareholders to vote on board nominations and proposals, with a submission deadline of July 31, 2025. This development follows a challenging year for Tesla, with shares declining 27% in 2025, attributed to falling sales and scrutiny over CEO Elon Musk’s political activities, including his recent announcement of forming the America Party. The company reported a 13.5% drop in vehicle deliveries in the second quarter, producing over 410,000 vehicles and delivering over 384,000. The November meeting is expected to address governance concerns and Musk’s focus amid ongoing business performance discussions.
34news.online
34news.online
