Top proxy adviser Institutional Shareholder Services on Friday recommended Tesla shareholders vote against the reapproval of CEO Elon Musk’s $56 billion pay package and withhold their support from the re-election of News Corp. scion James Murdoch to the automaker’s board. Tesla’s shareholder meeting is on June 13. The report, a copy of which was obtained by CNBC, comes after the other influential proxy adviser service, Glass Lewis, also recommended shareholders vote against Musk’s pay package.
“Over the last several years it has become clear that Delaware is no longer the right jurisdiction for us,” Tesla chair Robyn Denholm said in a letter to shareholders earlier this week. Tesla has adopted tactics other companies have used in contested shareholder meetings, whipping votes and launching a concerted public-relations effort to win support.
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