The Tesla chief executive is taking to his social media company to press shareholders to vote for a critical pay package on June 13.
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.
The electric vehicle maker will ask shareholders to vote again on a multibillion-dollar compensation package that was voided by a judge in January.
The electric vehicle maker will ask shareholders to vote again on a multibillion-dollar compensation package that was voided by a judge in January.
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.
Autoworkers want, and deserve, a big raise. But they are asking for too much.
The union targeted one factory run by General Motors, one by Ford and one by Stellantis. Prolonged walkouts could hurt the U.S. economy and President Biden.
Corporate governance experts say the electric-car maker’s directors may need to rein in the chief executive, with whom many have personal ties.