Investors in Pension Fund at Tesla require a 40-hour week of Elon Musk

Unlock the editor’s digestion free

FT editor Roula Khalaf, chooses his favorite stories in this weekly newsletter.

Great pension funds a group of large pension funds, Elon Musk’ın Carraker called for corporate governance reforms to resolve the “crisis” in Tesla for at least 40 hours.

The letter sent to Tesla Chair Robin Denholm on Wednesday, New York City Comptoler, American Teachers Federation, as well as European foundations such as the Academician of Denmark, including European funds, were signed by 12 long-term institutional investors. They manage about $ 950 billion to assets together.

Musk Earlier, the efforts associated with the activist’s shareholders, but the efforts of institutional investors are pressuring him are an unusual and the company’s change of change in the change of change.

They only occupy 0.25 percent of the signatories TeslaThe shares explained how some active managers made by the polarized position of the billionaire in US policy.

The current crisis in Tesla, the lack of CEO is expanded to the company’s full attention to Tesla, and the company’s lack of company suspends the company’s long-term problems, “he said.

To resolve the concerns of rising shareholders and the musk to resolve the sales, he promised to reject his efforts to Tesla and return the role of President Donald Trump. Tesla shares have been back since the announcement of Musk, but in December 17 percent falls below the peaks.

Tesla did not respond to the desire to comment immediately.

Musk has long been critical of activist investors that use small shares to use the effect.

The $ 54 billion salary agreement has been declined by the Delaware Trial Court after a problem by a shareholder with about 200 shares since 2018. Tesla’s appeal should be heard at the end of this year.

This month, the Board of Tesla was reportedly created by a committee Review a new payment package for musk.

The letter of pension funds said that any new reward plan for Musk is included in dedication to a minimum of 40 hours a week.

“The leadership of the polytheist, four private companies and its foundation, the board, the board, the Board should not be treated as one of the many competitive obligations,” he said.

Musk, he said he needed a new payment package against Tesla, which is connected with other companies, including S Social Media Group XA, Artificial Intelligence Ventue Xai, Spacex, Neuralink and Tesikifi.

Pension funds worked with a coalition of trade unions, which is a proxy battle against Starbucks against Starbucks in the early year and became the symbol of the reorganized labor movement in America.

“I do not think that we know that Tesla needs a new CEO,” Tejal Patel, SOC investment group is the executive director. “The Board should actually use this as a chance to return from the company.”

In the letter, Tesla’s board must develop a consistent plan applied to the company’s best managers and “really appointed a new independent company …. There is nothing to do for other board members.”

Oregon State Treasury Elizabeth Steiner, who signed the letter, “If you are not ready to be the CEO of Tesla, we do not understand who the next director is.”

Musk said last week would be back He said his serious political expenses and social media would make more efforts to the business empire.

“Here are 24/7 to spend 24/7 and go to bed in conference / server / factory rooms. I need to be super focus on Xai and Tesla.

Musk helped the government’s efficiency (DOGE) who want to reduce trillions from the US budget. However, the controversial role caused a decline against Tesla. Some consumers rubbed the brand and encountered protests in the vandals that target vehicles.

Randi Weingarten, President of the American Federation, said that the company has invested in a US Association, which has invested 4TN.

At the end of February, AFT six large money manager – Blackrock, Vanguard, State Street, Tesla Price, Loyalty and Tiaa “Revise Review”, “Revise” the position after a sharp decline in Tesla’s share price.

Tesla shareholders supported the 2018 payment agreement and supported the company that confirmed the company’s less tumors.