Tesla proposes 3-to-1 stock split as Oracle co-founder Larry Ellison, friend of Elon Musk, prepares to leave board

• Tesla says a stock split will enable workers to “have more flexibility in managing their equity” and make its stock “more accessible to our retail shareholders”
• The company also said Ellison, who promised funding for Musk’s Twitter acquisition, will not stand for re-election when his term ends this year