Tesla (NASDAQ:TSLA) chair foresees hurdles in shareholder approval for Musk's pay
Tesla's chairperson, Robyn Denholm, said the company faces a significant challenge as it prepares for shareholder votes on two contentious issues: relocating to Texas and CEO Elon Musk's record-breaking $56 billion pay deal.
Denholm, who has been Tesla's chairperson since 2018, also defended herself against criticism of being too close to Musk.
Last month, Denholm requested that shareholders once again approve Musk's compensation package, which was originally rejected by a Delaware judge in January.
The pay plan, the largest ever awarded to a CEO in the United States, ties Musk's compensation to Tesla's stock performance.
Defending the compensation plan, Denholm reportedly said that all shareholders she's spoken with acknowledge that the plan has been successful in driving shareholder value.
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