BlackRock voted to replace Tesla CEO Elon Musk with an independent chairman

11:25 AM ET Fri, 31 Aug 2018

Funds run by BlackRock voted in favor of a recent shareholder proposal that would have required Tesla to replace Elon Musk with an independent chairman. The proposal, which was defeated, would not have affected Musk's standing as Tesla's CEO. More than 86 million shares voted against the proposal at a shareholder meeting in June, while fewer than 17 million voted in favor, Tesla said.