Proxy advisory firm Institutional Shareholder Services (ISS) is recommending that Tesla investors not reelect directors James Murdoch and Kimbal Musk because the board approved excessive compensation packages to non-executive board members.
Tesla shareholders will cast ballots on Oct. 7 on cutting director terms to two years, eliminating a supermajority vote requirement to approve certain changes, and who will sit on the electric car maker’s board. Tesla is currently valued at $766 billion.
