Two influential advisory firms have urged shareholders to vote against Elon Musk’s contentious $51 billion pay package and raised concerns about the CEO’s numerous side projects.
On Friday, Institutional Shareholder Services called the package “excessive” and noted that shareholder concerns “have not been sufficiently mitigated” since the package was first approved in 2018.
” That warning came a few days after Glass Lewis, another prominent advisory firm, published a 71-page report that criticized the size of the compensation plan and warned about Musk’s “slate of extraordinarily time-consuming projects” that are unrelated to Tesla, such as X, the company formerly known as Twitter.
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