Tesla to seek investor approval for 3-for-1 stock split


FILE PHOTO The logo of Tesla is seen in Taipei Taiwan August 11 2017. REUTERSTyrone Siu

FILE PHOTO: The logo of Tesla is seen in Taipei, Taiwan August 11, 2017. REUTERS/Tyrone Siu

(Reuters) -Electric vehicle maker Tesla Inc on Friday proposed a three-to-one stock split, making its shares more affordable following recent sell-offs of the most valuable automaker.

The company also said Oracle Corp co-founder Larry Ellison, a friend of Tesla Chief Executive Officer Elon Musk, will not stand for re-election to Tesla's board when his term ends at this year's shareholder meeting.

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