00:00It's Benzinga bringing Wall Street to Main Street.
00:02Tesla chair Robin Denholm criticized proxy advisory firms ISS and Glass-Lewis
00:07for opposing CEO Elon Musk's new compensation package, which could make him a trillionaire.
00:11In a letter shared on X, Denholm said the firm's use of a simplistic one-size-fits-all framework
00:16that fails to assess Tesla's performance fairly.
00:19Shears investors to ignore the recommendations and support the board's proposals,
00:23stating that Musk would earn nothing unless shareholders receive exceptional returns.
00:27Then he'll dismiss claims of easy milestones, saying Musk must throw Tesla's just an EBITDA
00:32by about 26 times to reach $400 billion, proving that targets are challenging.
00:37Ross Gerber criticized Musk's compensation plan as insanity to question Tesla's board's independence,
00:43while Cathie Wood defended the package and predicted it would win approval.
00:47Gary Black and Dan Ives also said they expect shareholders to back the new pay deal.
00:50For all things money, visit Benzinga.com.
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