Shareholder support rises for arbitration review at Tesla

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Oct 13 (Businesshala) – Automaker Tesla Inc (TSLA.O) said in a security filing on Wednesday that support for a shareholder resolution would change how it handles arbitration matters, up from 27 at its annual meeting last week to 46. % Votes done. % for a similar offer in 2020.

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The non-binding resolution asked Tesla’s board to study the impact of using mandatory arbitration to resolve workplace complaints of harassment and discrimination. The issue gained more attention after a jury awarded $137 million to a Tesla contract worker last week over workplace racism.

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Tesla had opposed the motion, arguing that arbitration could benefit both sides of the dispute. The company did not immediately comment on the shareholder vote.

Nia Impact Capital CEO Kristin Hull, who filed the proposal, called the high support this year “a huge improvement as we educate people about why it matters to build an innovative team with a diverse and inclusive company culture.” Is.”

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Tesla CEO Elon Musk owns 23% of Tesla shares, according to his proxy statement, which means the measure would have been withheld from his votes, Hull said.

Wednesday’s filing showed two company directors up for re-election last week, James Murdoch with 70% of the vote, and Elon Musk’s brother Kimbal Musk with 80% of the vote.

Reporting by Ross Kerber and Hyunju Jin; Editing by Chris Reese and Stephen Coates

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