MarketWatch First Take: Tesla investors missed opportunity to hold Elon Musk & Co. accountable

Tesla Inc. investors missed an opportunity at the company’s annual meeting Tuesday to hold management, and especially Chief Executive Elon Musk, more accountable for its current issues.

As many had predicted, a shareholder proposal from union pension advisers CtW Investment Group asking investors not to renominate three directors for re-election did not win. All three directors — Musk’s brother, Kimbal Musk; venture capitalist Antonio Gracias; and James Murdoch, CEO of 21st Century Fox FOX, +0.78% — were re-elected to Tesla’s board, despite CtW’s concerns that they lacked relevant experience or had “multiple” ties with Musk, or both.

Another shareholder proposal, seeking to remove Musk as chairman, also did not pass.

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