Activist investors are demanding a shakeup at Tesla, with calls to replace the current board amidst concerns of incompatibility and lack of attention to profits.

The activist firm, CtW Investment Group, is contesting three board member votes up for election in the company’s June annual shareholder meeting, belonging to Antonio Gracies, Kimbal Musk, and James Murdoch. The reasons for the move include perceived conflict of interest, ineffectiveness with $4-billion in funds, and missed production targets.

“Tesla has failed to hit critical production milestones and has consequently seen its past progress toward profitability sharply reverse,” said Dieter Waizenegger, CtW’s executive director, in a letter to the Securities and Exchange Commission. “But instead of recognizing the need for independent and effective board leadership, Tesla has re-nominated three directors who exemplify the company’s failure to evolve.”

The letter also addressed concerns of a lack of industry experience needed to run the business and CEO Elon Musk’s handling of last week’s first-quarter analyst call, called “truly bizarre” and a “three-ring circus” by analysts.

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Over the past month, Tesla has taken measures to appease shareholder concerns, including changing the terms of its borrowing agreement to place its Model 3-producing, Fremont factory as collateral, valued at $1.8-billion. Earlier in the year, Tesla also revised Musk’s compensation package to become performance-based with no guarantees of fixed salary unless market cap milestones are met.

Lastly, Musk has tweeted the company would be profitable by the third quarter of this year, in response to an April 5 Economist article citing a Jefferies research note predicting an increase in fundraising later in the year.