‘What Elon most certainly does not have is unlimited time. Nor does he face any shortage of ideas and other places he can make an incredible difference in the world,’ the Tesla chair, Robyn Denholm wrote.‘What Elon most certainly does not have is unlimited time. Nor does he face any shortage of ideas and other places he can make an incredible difference in the world,’ the Tesla chair, Robyn Denholm wrote.
Denholm wrote in the shareholder letter, dated 5 June, that the purpose of the 2018 deal was to “keep Elon focused on Tesla and motivated to achieve the company’s incomparable ambitions”. Referring to Musk’s fortune, Denholm added: “This is obviously not about the money. We all know Elon is one of the wealthiest people on the planet, and he would remain so even if Tesla were to renege on the commitment we made in 2018.”
Last month, ISS, a top proxy advisory firm, recommended shareholders vote against the package, calling the compensation excessive. Glass Lewis, another advisory firm, has recommended a vote against. Bailie Gifford, a top-15 investor in Tesla, has said it plans to back the package, while Calpers, the US public pension fund and a top-25 shareholder, has said it plans to vote against.