Tesla shareholders urged to oust Elon Musk over $55bn pay deal

Adviser Pirc says Musk’s pay and Twitter outbursts pose ‘serious risk of reputation harm to the company’

Tesla investors are being urged to vote to remove Elon Musk, the electric vehicle company’s founder and chief executive, from the board of the firm as anger mounts over his bonus deal that could pay him a record $55.8bn (£40bn).

Pirc, an influential adviser to shareholders, including the UK’s local authority pension funds, on Tuesday recommended that investors voted against Tesla’s executive pay deal because it “unfairly enriches the chief executive”.

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Source : Tesla shareholders urged to oust Elon Musk over $55bn pay deal