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Tesla blasts Glass Lewis, defends Elon Musk's $56 billion pay package

Livemint · 1y

Tesla Inc. has criticized proxy adviser Glass Lewis for recommending the rejection of CEO Elon Musk's proposed $56 billion pay package. In a letter to shareholders, Tesla accused Glass Lewis of omitting key considerations and relying on speculation. The company urged shareholders to ignore Glass Lewis's advice and support Musk's compensation package. The board is working to rally support for the package ahead of the annual meeting in June after it was nullified by a Delaware judge. Musk has previously criticized proxy advisers for holding too much power in shareholder voting decisions.