Robyn Denholm, the chair of Tesla Inc. (NASDAQ: TSLA)'s board of directors, pleaded with shareholders on Friday to reapprove CEO Elon Musk's $47 billion pay package, which a Delaware judge had previously overturned.
What Happened: Denholm made a video appeal to shareholders, stressing the vote's significance for Tesla's future. She contended that the ruling of a single judge should not supersede the collective will of Tesla's millions of owners.
Musk's pay package, valued initially at around $56 billion, has shrunk to $47 billion due to a decline in Tesla's share price. The package was scrapped following a shareholder lawsuit alleging the payout was excessive.
Tesla Board Of Directors Chair Robyn Denholm has released a new video talking about the upcoming 2024 shareholder vote in June. ...