SAN FRANCISCO, Oct 7 (Businesshala) – Tesla Inc (TSLA.O) Chief Executive Elon Musk said on Thursday that the electric carmaker plans to move its headquarters from Palo Alto, California to Austin, Texas.
Musk spoke at Tesla’s annual shareholders meeting at its car and battery factory complex in Austin, which is under construction.
Shareholders followed the board’s guidance on a number of key questions, including the re-election of Kimbal Musk and James Murdoch as board directors.
Proxy advisory firm Institutional Shareholder Services (ISS) recommended that Tesla investors not re-elect two directors because of concerns about an exorbitant compensation package to non-executive board members.
Shareholders also voted against a stockholder proposal that called for a study of the impact of Tesla’s use of mandatory arbitration on workplace harassment and discrimination.
The proposal, opposed by the board, hit headlines on Monday after a black former contract worker won a $137 million jury prize against Tesla over workplace racism.