Tesla chair Robyn Denholm urged shareholders to back a proposed $1 trillion compensation package for CEO Elon Musk, warning in a letter Monday that the company risks losing “significant value” if the deal fails and Musk opts to step down as chief executive.
The plea to investors comes ahead of Tesla’s annual shareholder meeting on Nov. 6, when votes will be counted on the historic pay plan and other key proposals. At the heart of the board’s message: Musk’s leadership is vital as Tesla pushes further into artificial intelligence, robotics, and autonomous driving—and without a new long-term incentive, the company might not retain Musk, who has defined its trajectory over the past decade-plus.
