Tesla Shareholders Rebel Against $1T Musk Compensation Plan
Tesla shareholders have expressed their dissatisfaction with a proposed $1 trillion election package for CEO Elon Musk. The board's 'relentless pursuit' to retain Musk, they argue, is hindering the company's key objectives.
The election package, the largest in corporate history, was prepared by the Tesla board before being discussed at the November meeting. Shareholders, including SOC Investment Group and state officials, have urged investors to oppose the payout. They cite declining operational and financial metrics at Tesla, as well as the company's lack of real-time leadership.
The coalition is also calling for the opposition to the re-election of directors Ira Ehrenpreis, Joe Gebbia, and Kathleen Wilson-Thompson, alleging that they have not adequately addressed shareholder concerns.
The shareholder coalition's opposition to Elon Musk's election package and the re-election of certain directors signals growing dissatisfaction with Tesla's current leadership and direction. The outcome of this dispute could significantly impact Tesla's future.
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