The advisory firm ISS, also known as Institutional Shareholder Services, was once referred to as “ISIS” by Tesla CEO Elon Musk. Currently, the firm is urging Tesla shareholders to reject the $56 billion pay package that Musk previously obtained, but is now up for ratification. In 2021, the firm recommended that the EV maker remove Kimbal Musk and James Murdoch from the company’s board.
On the other hand, there are numerous individuals who argue that Musk is entitled to this sum of money, deeming its size irrelevant as he was already granted this compensation before it was rescinded. “Egan-Jones believes the continuation of this compensation plan is critical for maintaining Musk’s leadership and motivation, both of which are essential for Tesla’s sustained growth and innovation.” Should this move be supported?