Increased shareholder support for arbitration reviews in Tesla

Automaker Tesla said Wednesday that support for a shareholder resolution on how to handle arbitration issues rose from 27% of similar proposals in 2020 to 46% of the votes cast at last week’s annual meeting. Said in the filing.

The non-binding resolution called on Tesla’s board to study the impact of the use of compulsory arbitration to resolve workplace complaints of harassment and discrimination. The issue received even more attention last week after awarding a $ 137 million jury award to Tesla’s contract workers for workplace racism.

Tesla opposed the resolution, arbitrating that arbitration could benefit both parties to the dispute. The company did not immediately comment on the shareholder vote.

Kristin Hull, CEO of Nia Impact Capital, who submitted the resolution, said this year’s higher support was “by educating people why this is important to build an innovative team with a diverse and comprehensive corporate culture. It was called “a big improvement.”

According to the power of attorney, Tesla CEO Elon Musk owns a 23% stake in Tesla.

Wednesday’s submission was shown between the directors of the two companies re-elected last week, with James Murdoch receiving support from 70% of the votes and Elon Musk’s brother Kimbal Musk from 80% of the votes. Received support.

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Increased shareholder support for arbitration reviews in Tesla

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