00:00You've acknowledged that there is a very real risk that Elon leaves if the vote is a no.
00:06The question we get most often from shareholders to you is what's the plan B?
00:13Either is there a plan B as a different person stepping up or have you discussed with Elon
00:18the idea that it will result in a no vote and that you can use some kind of bridging mechanism,
00:25another interim pay award, for example?
00:27Well, he's been quite public in terms of the implications of a no vote being on his leadership
00:36as well as obviously on the performance plan itself.
00:42And so from our perspective as a board, we obviously take our fiduciary responsibilities
00:48really seriously to all shareholders and having a succession plan,
00:53you know, those types of things, the things we've discussed on an ongoing basis,
00:59particularly, you know, if something untoward were to happen.
01:04So from our perspective, succession planning is an important part.
01:08And so much so that we've actually baked in an orderly succession plan,
01:12a plan for a plan, if you like, as part of this performance plan.
01:16So the last two tranches of the performance plan are unlocked by having a robust performance plan,
01:26sorry, succession plan that Elon would be part of.
01:29If Elon Musk walks away from Tesla on November 6th or 7th because of a no vote,
01:36is there a contingency where there is an individual already within Tesla
01:40or an individual outside of Tesla that is lined up as a near term option?
01:47Yeah. So from our perspective, the most important thing at this point in time
01:51is making sure that we're explaining all of the items on the shareholder agenda
01:57for the annual shareholder meeting, making sure that institutional investors,
02:03retail investors have their questions answered.
02:05That's our most important thing right at this point.
02:08And we are only...
02:09Robin, that is their question.
02:10Who's the backup plan is the question that they're asking you.
02:13Well, there is no other person that is Elon.
02:16We think that he is the right leader for the company over this next decade
02:22in delivering the plan and the opportunities ahead of us.
02:25So it's about how do we create the most value for the company
02:30and for our shareholders over this next period of time.
02:33And he is the right leader for us over this next decade.
02:36Can you give me a sense of probability if the vote is no,
02:40what probability Elon walks?
02:42So right at this point in time,
02:45it's too early to actually make a call on the outcome.
02:49Most investors wait to the last minute to vote.
02:53So we're still early in that cycle,
02:55which is one of the reasons why I'm in New York
02:57to meet with our institutional investors.
03:01And we will get a better sense, you know, as the votes come in.
03:05And some institutions are more public than others
03:08in terms of how they're going to vote.
03:12So yesterday there was a public announcement
03:14by the pension fund in Florida.
03:17And so other investors will start to make their votes public as well.
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