Proxy Advisor Decides Tesla's Chairwoman Isn't So Bad After All
Glass Lewis, a company that provides proxy-voting recommendations to institutional investors, said late Tuesday that it is now recommending that shareholders of Tesla (NASDAQ: TSLA) vote in favor of reelecting Robyn Denholm to chair the company's board of directors.
The company had previously opposed Denholm's reelection over concerns about so-called D&O insurance, which insures a company's directors and officers against liability claims. CEO Elon Musk had said earlier this year that Tesla would no longer pay for D&O insurance; instead, he said, he would personally insure the company's directors.
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Source Fool.com