A group of 27 major Tesla shareholders sent a letter to the company’s board on Wednesday urging it to set a date for the 2025 annual shareholder meeting, citing legal obligations and concerns about corporate governance.
The group includes U.S. state treasurers, pension funds, and governance experts. They said Tesla is close to missing a legal deadline under Texas law, which allows shareholders to ask a court to require a meeting if one is not held within 13 months of the last.
Tesla’s previous annual meeting took place in June 2024.
“Tesla’s ongoing silence on the AGM is cause for concern,” the shareholders said in the letter. Their request follows growing attention on CEO Elon Musk’s political plans and declining performance of the company’s stock and vehicle sales.
In April, Tesla said it would delay filing its annual proxy statement because the board had not decided on a meeting date. The company also announced a special committee was reviewing compensation matters involving Musk, without providing details.
Last year, shareholders approved Musk’s $56 billion pay package, even after a Delaware court had voided the deal.
Tesla’s vehicle deliveries fell 13.5% in the second quarter, putting the company on track for a second straight year of lower sales. Its stock is down 27% so far this year.
Investor concerns have grown following Musk’s public feud with President Donald Trump and the end of electric vehicle tax credits.
Musk’s push to launch a political party has also raised questions about his focus on Tesla. The company has not commented on the letter.
