Tesla faces a potential leadership shake-up as CEO Elon Musk may exit the company if shareholders reject his proposed compensation package worth up to $1 trillion. In a letter to shareholders, Chair Robyn Denholm emphasized that Musk’s »time, talent, and vision« are essential for Tesla’s future. The package would grant Musk 12 tranches of stock options over ten years, tied to ambitious targets such as a market capitalization of $8.5 trillion, major advances in autonomous driving, and robotics.
Critics, including proxy advisory firm ISS, have urged shareholders to vote against the deal, calling it excessive and insufficiently linked to performance obligations. With the next annual shareholder meeting scheduled for November 6, both Musk’s role at the company and Tesla’s governance standards are under close scrutiny.
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