Thursday, June 20, 2024

Tesla now fears that Elon Musk will resign as director

If Tesla's shareholders do not vote the gigantic salary package that the board has already approved for Elon Musk, the director will take action, the warning reads.

Tesla is trying in every possible – and impossible – way to make the shareholders realize that it is a good idea that Elon Musk gets 400 billion kroner in salary.

Tesla has, among other things, spent advertising dollars – even on Elon Musk's own social media – to get shareholders to vote yes to the massive salary package.

And now the board chooses to go out with yet another pressure directed at the shareholders. A fairly concrete one of a kind. In fact, some would probably say that it doesn't get more concrete.

Tesla is simply afraid that Elon Musk will leave his position as CEO if the car brand is not allowed to pay him the astronomical salary.

READ ALSO: VW spends 500 billion kroner from electric cars on petrol and diesel

This is what Tesla's chairman of the board Robyn Denholm writes, according to the media Fortune .

She believes that Elon Musk has no shortage of places where 'his fantastic ideas can make a difference to the world.' She writes this in a letter to the shareholders, who must vote for the pay package before 13 June.

– What we recognized in 2018 and continue to recognize today is that one thing Elon absolutely does not have is unlimited time. He also has no shortage of ideas and other places where he can make an incredible difference in the world.

– We want those ideas, that energy and that time to be with Tesla, for the benefit of you, our owners. But that requires mutual respect, writes Robyn Denholm in the letter.

Despite Tesla's insistence to its shareholders that Elon Musk should own more than 13 percent of the car brand, several major advisory firms have advised against a no vote.

– If Tesla is to retain Elon's attention and motivate him to continue using his time, energy, ambitions and vision to deliver comparable results in the future, we must stick to our agreement, says Robyn Denholm.

Read more exciting news from and about the world of cars right here!

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