Tesla CEO Elon Musk has been warned that he may leave the company. According to Chair Robyn Denholm, if Musk’s proposed $1 trillion compensation plan is not approved, he might stop leading Tesla.
The issue will be discussed at the annual shareholders’ meeting on November 6. Tesla’s board has been criticized in recent years for being too lenient toward Musk. Experts say the board is under his influence and cannot make independent decisions.
According to Denholm, the compensation plan was created to keep Musk at the company for a long time and to motivate him toward new achievements. She emphasized that Musk’s role in Tesla’s success is invaluable, and if he steps down, the company could face significant losses.
Under the plan, Musk will be entitled to 12 tranches of stock options. The reward depends on raising the company’s value to $8.5 trillion and achieving major results in artificial intelligence and robotics. Tesla’s board considers the plan necessary to motivate Musk and protect shareholders’ interests.
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