Tesla Board Chair Robyn Denholm Criticizes Proxy Advisors' 'One-Size-Fits-All' Approach To Elon Musk's $1 Trillion Pay Package

Benzinga

Tesla Chair Robyn Denholm urged investors to back Elon Musk’s new pay package despite opposition from ISS and Glass Lewis. She argued Musk’s rewards depend on exceptional returns, while analysts remain divided ahead of the shareholder vote.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Tesla chair Robin Denholm criticized proxy advisory firms ISS and Glass-Lewis

00:07for opposing CEO Elon Musk's new compensation package, which could make him a trillionaire.

00:11In a letter shared on X, Denholm said the firm's use of a simplistic one-size-fits-all framework

00:16that fails to assess Tesla's performance fairly.

00:19Shears investors to ignore the recommendations and support the board's proposals,

00:23stating that Musk would earn nothing unless shareholders receive exceptional returns.

00:27Then he'll dismiss claims of easy milestones, saying Musk must throw Tesla's just an EBITDA

00:32by about 26 times to reach $400 billion, proving that targets are challenging.

00:37Ross Gerber criticized Musk's compensation plan as insanity to question Tesla's board's independence,

00:43while Cathie Wood defended the package and predicted it would win approval.

00:47Gary Black and Dan Ives also said they expect shareholders to back the new pay deal.

00:50For all things money, visit Benzinga.com.

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