Tesla Inc TSLA CEO Elon Musk stated on Friday that he would ship a cake to Delaware with the favored Latin phrase ‘Vox Populi, Vox Dei’ in icing as a farewell reward. Musk’s joke comes on the heels of Tesla shareholders approving the motion of Tesla’s authorized headquarters to Texas from Delaware.
What Occurred: Musk soured on Delaware earlier this 12 months after the Delaware Courtroom of Chancery rescinded his $56 billion pay package deal terming it “an unfathomable sum” regardless of shareholders approving it in 2018. The CEO then introduced that he would contemplate shifting Tesla’s authorized headquarters to Texas the place it’s bodily headquartered. The proposal was subsequently put for a shareholder vote and shareholders accredited it.
The results of the vote was introduced at Tesla’s annual shareholders’ assembly on Thursday. The shareholders additionally reapproved Musk’s rescinded pay package deal, marking a serious win for Tesla’s board and Musk. Whereas the vote in itself won’t assist reinstate the package deal, it provides Musk vital authorized leverage.
Musk on Friday posted an image of a cake on X, with the favored Latin phrase “Vox Populi, Vox Dei” which suggests “the voice of the folks is the voice of God.” “Sending this cake to Delaware as a parting reward,” Musk wrote, reasserting the need of Tesla shareholders over Delaware courts to find out the way forward for the EV firm.
Different Reactions: Tesla Director Kimbal Musk, too, took to X to announce his glee on the outcomes of the shareholder vote.
“The distractions from Delaware, violating shareholder rights & canceling arms size contracts, is over. Goodbye Delaware. You’ll not be missed,” he wrote whereas including that the EV firm can now give attention to constructing an excellent enterprise.
Thanks Tesla Shareholders!
We are able to now give attention to constructing an excellent enterprise & accelerating the world in direction of various power.
The distractions from Delaware, violating shareholder rights & canceling arms size contracts, is over. Goodbye Delaware. You’ll not be missed. https://t.co/hxpnhx7UiF
—
Market Information and Knowledge dropped at you by Benzinga APIs
© 2024 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.
