-1.15% Tesla's chairwoman, Robyn Denholm, has urged shareholders to approve Elon Musk's compensation package, estimated at nearly $1 trillion, warning that the group could lose its iconic leader if it is rejected. In a letter sent ahead of its shareholders meeting on November 6, she said that Musk remains essential to Tesla's strategy, particularly in its developments relating to artificial intelligence, autonomous driving, and the Optimus humanoid robot. She says that the CEO's departure would compromise the manufacturer's valuation and image, which is currently "at a major inflection point." The plan, proposed in September, provides for the allocation of 12 tranches of shares to Musk, subject to the achievement of specific targets. If fully approved, his stake would increase from 13% to around 25%, strengthening his voting power and control over the company. Denholm says that the measure is intended to ensure Musk's commitment, as he himself has expressed discomfort with pursuing certain projects without increased influence, notably the Optimus robot. The executive believes that insufficient control over AI-related decisions could be "dangerous" for Tesla. However, the plan has met with strong opposition. ISS has recommended that investors vote against it, and the Take Back Tesla collective has denounced both its financial scale and Musk's controversial political positions. Shareholders have until the evening of November 5 to vote. Tesla is also seeking the reappointment of three outgoing directors. Despite mixed quarterly results, the group remains buoyed by 12% growth in revenue, following two consecutive quarters of decline. © MarketScreener.com - 2025