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Five of Eight SolarCity Board Members Will Abstain on Tesla Vote

June 29, 2016
Reading time: 1 minute

Harani0403/WikimediaCommons

Harani0403/WikimediaCommons

Harani0403/WikimediaCommons
Harani0403/WikimediaCommons

More than half of SolarCity’s eight board members are recusing themselves from the vote on the US$2.8-billion takeover offer announced last week by Tesla Motors founder (and SolarCity board chair) Elon Musk.

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On the day of the announcement, Musk said the deal “will only move forward if there is a majority vote of the non-me shareholders in both companies.” But with the other recusals—including CEO Lyndon and CTO Peter Rive, both cousins to Musk, and JB Straubel, Tesla’s CTO—Bloomberg notes SolarCity is left with a decision that will be recommended by only 37.5% of its board if the last three directors are unanimous, or 25% if their vote produces a two-to-one split.

The final vote will rest with shareholders of both companies. But that didn’t stop Bloomberg Gadfly from concluding that “the boards at SolarCity and Tesla would make a great ad for LinkedIn.” (h/t to Greentech Media for pointing us to this story)







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Five of Eight SolarCity Board Members Will Abstain on Tesla Vote

June 29, 2016
Reading time: 1 minute

Harani0403/WikimediaCommons

Harani0403/WikimediaCommons

Harani0403/WikimediaCommons
Harani0403/WikimediaCommons

More than half of SolarCity’s eight board members are recusing themselves from the vote on the US$2.8-billion takeover offer announced last week by Tesla Motors founder (and SolarCity board chair) Elon Musk.

Get the latest climate news and analysis, direct to your inbox.

Subscribe Today

View our latest digests

On the day of the announcement, Musk said the deal “will only move forward if there is a majority vote of the non-me shareholders in both companies.” But with the other recusals—including CEO Lyndon and CTO Peter Rive, both cousins to Musk, and JB Straubel, Tesla’s CTO—Bloomberg notes SolarCity is left with a decision that will be recommended by only 37.5% of its board if the last three directors are unanimous, or 25% if their vote produces a two-to-one split.

The final vote will rest with shareholders of both companies. But that didn’t stop Bloomberg Gadfly from concluding that “the boards at SolarCity and Tesla would make a great ad for LinkedIn.” (h/t to Greentech Media for pointing us to this story)







in Batteries & Storage, Community Climate Finance, Electric Vehicles, Regions, Renewables, Society & Culture, Solar, United States

Leave a Reply Cancel reply

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540+ Dead, Hundreds Missing as Towering Flash Flood in Nepal Points to Extreme Heat, Heavy Rainfalls

August 28, 2026
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Sarah Yurchevich

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August 25, 2026
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August 25, 2026
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The End of the World vs. the End of the Week: Carney’s Pushback on Trump’s Bullying Could Point to the Next Energy Transition Moment

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