State treasurers seek information from Tesla board on governance

Eight state treasurers wrote a letter to Tesla’s (TSLA) board chairman Robyn Denholm, dated April 17, saying in part, “We are increasingly concerned that Tesla’s recent performance signals deeper governance and leadership challenges that, if left unaddressed, could have serious consequences for the company and its stakeholders. In the first quarter of 2025 alone, Tesla’s stock declined by 36%. The company missed delivery targets, recalled a substantial number of vehicles, and experienced a surge in trade-ins for competing brands. Meanwhile, CEO Elon Musk continues to divide his attention across multiple companies and a high-profile advisory role within the federal government. These external commitments raise serious questions about whether Tesla’s leadership is fully engaged in addressing the company’s core challenges.” The state treasurers requested clarity on how the board ensuring that Musk and Tesla’s leadership team are “devoting adequate time and focus to resolving recent performance issues and guiding the company’s future direction.”