This column does not advise owning individual stocks. But if you are a shareholder in Tesla, should you support the call of good-governance types for Elon Musk to surrender his chairman’s title to an independent eminence who can be appointed to ride herd on him?

Our answer, strictly from the shareholder’s standpoint, is no. This good-governance nostrum, like many, is case-specific. It’s a good idea for a company for which it is a good idea. It’s not a good idea for Tesla because the main thing holding up the stock price is...