Proxy adviser Institutional Shareholder Services Inc (ISS) on Monday urged Tesla Inc shareholders to vote against the re-election of chairwoman Robyn Denholm at the electric carmaker's annual meeting next month.
FILE PHOTO: The company logo is pictured on a Tesla Model X electric car in Berlin, Germany, November 13, 2019. REUTERS/Fabrizio Bensch
The firm expressed concerns over Denholm’s leadership, citing consecutive years of high compensation for directors, without a reasonable rationale, and a steep rise in share pledging by certain Tesla directors and executives, during her time. “The significant number of pledged shares raises concerns regarding the audit committee’s ability to effectively oversee risk at the company,” ISS said.
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