Tesla expands ‘Full Self-Driving’ beta tests as proxy group urges board shakeup

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A powerful proxy advisory firm is recommending Tesla Inc. shareholders to vote against two current board members and for measures urging greater corporate accountability. Meanwhile, Tesla is expanding the number of drivers who can request the beta version of its latest “Full Self-Driving” feature, despite concerns from regulators. A note by Institutional Shareholder Services on Friday advised voting against re-electing directors James Murdoch, who quit the board of News Corp. in 2020, and Kimbal Musk, brother of Tesla CEO Elon Musk. ISS cited directors receiving “sizeable equity grants” without providing rationale, raising concerns about the directors’ ability to effectively oversee the company’s risk. ISS also complained that the board has not been sufficiently responsive to measures that were approved by shareholders last year. ISS is also recommending “yes” votes on shareholder proposals to declassify the board, to issue
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