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August 16
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Shareholders were offered to remove Musk as the chair and chief executive officer, Bloomberg reported.

Institutional Shareholder Services (ISS) proposes to create the position of an independent chair.

“Shareholders would benefit from the strongest form of independent board oversight in the form of an independent chair," ISS wrote in a statement to clients.

The role of chairman and chief executive officer is now held by Elon Musk. Three of Tesla’s nine directors are up for re-election when shareholders meet on June 5: private equity investor Gracias; Murdoch, the CEO of Twenty-First Century Fox and son of media mogul Rupert Murdoch; and Kimbal Musk, a food entrepreneur who is Musk’s younger brother.

"In these circumstances, it is important that the board of directors take steps to ensure that management remains focused on resolving the manufacturing challenges, and that the CEO and other executives do not get distracted by outside business interests or Twitter fights," the statement said.

In 2018 first quarter, Tesla's net loss amounted to a record $ 709.551 million as compared to the same period last year ($ 330 million).

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