Tesla board faces heat over Musk successor plan

Ashareholder has submitted a resolution for investors to vote in May on whether to prepare a key-person risk report

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Tesla's board of directors is facing mounting pressure to prove just how prepared they are for the potential loss of Elon Musk, the chief executive officer largely behind the breakneck rise and dramatic fall in the company's valuation.

Karen Róbertsdóttir, a shareholder in Reykjavik, Iceland, has submitted a resolution for Tesla investors to vote in May on whether the board should prepare and maintain a key-person risk report. Several other shareholders who wanted to put forward proposals - at least one of which also pertained to Musk-are frustrated with how the company disclosed plans to hold its annual meeting months earlier than in recent years, sparing the directors from even more heat.

If Róbertsdóttir's motion makes it onto Tesla's proxy, it would give investors a tangible way to force Tesla to be more forthcoming about an area of concern that's been growing since Musk's takeover of Twitter. The carmaker's directors designed an unprecedented pay package years ago that seeded the CEO with the means to agree to the $44 billion deal just as social media and technology firm shares were beginning to plunge.