"Do you want to retain Elon as Tesla's CEO and motivate him to drive Tesla to become the leading provider of autonomous solutions and the most valuable company in the world? The typically reclusive Denholm said that failing to "foster an environment that motivates Elon," creates the risk that Musk could walk, saying, "Tesla may lose his time, talent and vision, which have been essential to delivering extraordinary shareholder returns.""
"Musk reiterated to analysts Wednesday that he's worried about devoting significant effort toward his vision for Tesla's humanoid future only to "be ousted at some point in the future." "That's my biggest concern," he said on the earnings call. "That is really the only thing I'm trying to address with this so-called compensation." He added: "I don't feel comfortable building that robot army if I don't have at least a strong influence" via stock ownership."
A pending shareholder vote will determine whether Elon Musk remains Tesla's CEO and whether incentives will motivate him to pursue autonomous solutions and maximize company value. The proposed compensation package could be worth nearly $1 trillion if performance benchmarks are met over the next 7.5 years. Musk has expressed concern about being ousted and links the compensation to securing sufficient stock ownership and influence for long-term projects like humanoid robots. Advisory firms ISS and Glass Lewis recommend rejecting the package for its size and dilution. Several institutional investors and state treasurers oppose it. Voting ends Nov. 5; preliminary results expected Nov. 6.
Read at Axios
Unable to calculate read time
Collection
[
|
...
]