US EditionTesla Investors Press Musk to Commit to 40-Hour Workweek to Address Slumping Sales
- A coalition of Tesla investors holding about 7.9 million shares urged Elon Musk on May 28 to commit at least 40 hours weekly to managing Tesla.
- The investors cited Musk's diversion to other ventures as the cause of Tesla's faltering sales, profits, and volatile stock price.
- The letter to board chair Robyn Denholm, signed by pension funds, unions, and state treasurers, requested pay tied to Musk's full-time focus and a new independent director.
- The letter emphasized that Tesla should not be managed as just one priority among many for the CEO and urged the board to establish clearer plans for CEO succession and introduce new, independent board members.
- The investors warned ongoing performance issues and reputational damage require reforms, implying that Musk's renewed focus could stabilize Tesla's future.
44 Articles
44 Articles
As Elon Musk leaves government, Tesla shareholders beg him to work at least 40 hours a week at the company
As Elon Musk prepares to leave the U.S. government, Tesla investors are pleading with the EV maker to make sure the CEO refocuses on the company and to disclose how the board would replace him in an emergency or if he loses interest. In a letter sent to Tesla board chair Robyn Denholm on Wednesday, shareholders demanded Musk work at least 40 hours a week at the company. Elon Musk’s departure from the Department of Government Efficiency has done …
As Elon Musk Exits Washington, Tesla Investors Demand He Work 40-Hour Weeks as CEO
Now that Elon Musk has wrapped up his high-profile advisory role in Washington, a group of Tesla’s institutional investors is pressing him to return his full attention to the company, which has seen sales plummet in key markets in recent months. The investors point to slowing electric vehicle sales and a slumping stock price as evidence that Tesla needs Musk back at the helm. Yesterday (May 28), Tesla chair Robyn Denholm received a letter signed…
Musk's White House exit refocuses questions about Tesla, other businesses
Elon Musk's break with the Trump administration means investors will hope he refocuses on his sprawling empire as Tesla battles slumping sales and after SpaceX's latest rocket launch fell short of expectations.
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