Tesla to shrink board to seven directors from 11

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(Reuters) – Tesla Inc said on Friday that four members of its eleven-member board would be leaving over the next two years, as the electric car company looks to streamline its board.

FILE PHOTO: A Tesla logo is seen in Los Angeles, California U.S. January 12, 2018. REUTERS/Lucy Nicholson/File Photo

Brad Buss, Antonio Gracias, Stephen Jurvetson, and Linda Johnson Rice will not be standing for re-election in the upcoming annual meetings of stockholders in 2019 and 2020, the company said here in a regulatory filing.

The company said its directors reviewed the composition of the board “focusing on a phased streamlining of the size of the Board to allow it to operate more nimbly and efficiently.”

Tesla said the decision did not result from any disagreement between the company and the directors.

Of the four members who would exit the board, Buss and Gracias were part of Tesla’s disclosure controls committee, overseeing the implementation of the terms of the consent…



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