Tesla Investors Require Musk 40-hour Week in EV Maker amid crisis

Elon Musk need to spend more time on Tesla According to a report on Wednesday, on Wednesday, a group of pension funds management in the company is facing a “crisis”.

“The volatility of Tesla shares, reducing sales, and unpleasant reports on human rights practice, as well as a decrease in global reputation, are seriously concerned,” the investors wrote in a letter to Robin Denholm, chairman of the company council. “Moreover, many issues are related to Mr. Musk’s actions outside his role technology and Tesla Chief Executive Director, including his high-profile role of the US Department of Government Efficiency (DOGE).”

Investors want the Tesla advice from Musk to work at least 40 hours a week for a carmaker, as a condition of any new compensation plan they can agree on it. They also want a clear success plan for managing EV business, and a policy that will extend to all TESLA directors who limit their obligations to the external council in public and private companies.

Earlier last year, the Deloher Court of the Office ordered Tesla to cancel the MUSK CEO of 2018, which cost about $ 56 billion, felling Musk controlled the campaign and the Committee on the Council’s compensation before seeking voting for approving the plan.

Musk now says he wants even more stocks that is 25% Voting control Company.

Tesla kind Cost and reputation have declined since 2024 WillIncendants rhetoric and political activity. In addition to pouring nearly $ 300 million to get effort to get Donald Trump Returning to the White House, Musk officially supported the far -right party of Germany ahead of the country’s parliamentary elections this year.

In Doge, Muscovy led the initiative of the Trump administration to reduce federal agencies.

Tesla once took eighth among the most popular American brands in Axios Harris survey Public perception of the 100 most prominent US companies. But recently Tesla fell 95th, six other automakers in this poll.

This year, Tesla shares decreased by 12%, and NASDAQ decreased by only 1%.

Data this week showed that Tesla’s Monthly sales In April, all over Europe, it was almost doubled compared to the same time last year. This trend expands the steep decrease in tesla like in The first quarter.

Investors who signed a letter on Wednesday have about 7.9 million shares in the company. They accused the Tesla Council, who “does not want to act in the interests of all TESLA shareholders, demanding Musk’s” full attention “.

This week, Musk said it plans to focus more on its business, including XAI and SpaceX in addition to Tesla.

Those who signed the letter included the Pro-Labor investment group, the US Teachers Federation, the New York Comptroller Brad Lander and Oregon, Elizabeth Steiner.

Investors asked Tesla to add at least one independent director without personal connections with other members of the board. Tesla earlier this month – Note former Chip CEO Jack Khartung will join the company council. Previously, Khartung worked with his brother Musk and Tesla Kimbal Musk Board, who was a member of the Council in the Mexican Food Network.

Tesla did not respond to a comment request in response to the letter.

Read A letter of investors in full Here.

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