Tesla Faces Investor Backlash Over Delayed Meeting

Tesla has scheduled its annual shareholder meeting for November 6, nearly four months after the Texas legal deadline, following pressure from a coalition of 27 major investors, including public pension funds and state treasurers. The delay has raised concerns about Tesla's compliance with corporate governance rules and intensified scrutiny of CEO Elon Musk’s leadership, especially in light of his political activities and side ventures. Musk’s executive compensation remains a key issue after his pay package was rescinded twice in court. The upcoming meeting is expected to be contentious, giving shareholders a chance to challenge the board on governance, compensation, and Musk’s focus amid declining sales and a slumping stock price. The meeting announcement coincided with news that Musk’s AI chatbot Grok, which has faced controversy for generating inappropriate content, will soon be integrated into Tesla vehicles. It remains unclear whether Tesla will face penalties for the delay or if shareholder concerns will be adequately addressed.