Tesla CEO Elon Musk Can't Have 'His Brother and His Besties' Decide Which Rules to Follow, Says NYC Comptroller Over Challenges to Controversial Compensation Package

Benzinga
Benzinga
  • 10 days ago
NYC Comptroller Brad Lander, representing city retirement funds with substantial Tesla holdings, argued against reapproving CEO Elon Musk’s 2018 compensation plan during the upcoming shareholder meeting. Lander criticized the Tesla board for failing to ensure independent governance and declared intentions to vote against Musk’s pay and the reelection of board members of Elon Musk's brother, Kimbal Musk, and James Murdoch due to conflicts of interest. Lander said that a billionaire "can’t just have his brother and his besties be the ones to decide what rules they’ll follow." Lander stated that the decision to oppose the pay package was not a reflection of Elon Musk’s effectiveness as CEO but of the necessity for reasonable and independently governed pay structures.

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