ISS calls on Tesla shareholders to remove chairman: Leadership is not good

BEIJING, June 16 (Xinhua) — Acting advisory firm ISS on Monday called on Tesla shareholders to remove chairman Robyn Denholm at next month’s annual general meeting. Iss said Mr Danholm’s leadership was in jeopardy, for example, with directors’ pay not reasonably justified for years of highs and a sharp rise in equity pledges for some directors and executives during his tenure.

ISS calls on Tesla shareholders to remove chairman: Leadership is not good

Danholm has been Tesla’s chairman since November 2018 and is a member of the board’s audit and compensation committee.

According to ISS, “the large number of equity pledges has raised concerns about the audit committee’s ability to effectively review the company’s risk.” “Over the past year, the number of shares of The Company has increased by 35.6 per cent, or 4.9 million shares, or 10.43 per cent of the outstanding equity, or about $7.9bn.