Robyn Denholm sold Tesla stock in recent months while Elon Musk, the chief executive she oversees, worked for President Trump and alienated many car buyers.
Robyn Denholm sold Tesla stock in recent months while Elon Musk, the chief executive she oversees, worked for President Trump and alienated many car buyers.
Robyn Denholm, who leads Tesla’s board, said on social media that board members were “highly confident” in Mr. Musk, the company’s chief executive.
The carmaker denied a report that its board had explored finding a successor to Elon Musk. But even if he sticks around, he and the company face big challenges.
Investors voted overwhelmingly to reinstate the C.E.O.’s multibillion-dollar compensation package, inextricably tying the car maker’s future to the tech billionaire.
The vote is seen as a referendum on the limits of executive pay and the accountability of Silicon Valley billionaires.
The company’s directors are asking shareholders to again approve the multibillion-dollar compensation plan and to move the company’s registration to Texas, from Delaware.
Robyn Denholm, who has led the electric car company’s board for more than five years, has been criticized for not serving as a check on Mr. Musk.
The company’s board of directors will now decide whether to appeal the decision, change where Tesla is incorporated or negotiate a new pay package.
Shareholders had sued, arguing that Mr. Musk’s compensation — which helped make him the world’s richest person — was excessive.