Tesla Shareholders Call Musk’s Pay Deal an ‘Abysmal Failure’ (2)

A coalition of Tesla Inc. shareholders is urging its peers to reject the $56 billion pay package for Chief Executive Officer Elon Musk that the company’s board has asked investors to approve again.

<-bsp-bb-link state="{"bbHref":"bbg://securities/9990301D%20US%20Equity","_id":"0000018f-9b62-de3b-adcf-dbe3617c0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Amalgamated Bank, SOC Investment Group and six other signatories that hold a small portion of Tesla stock said Musk is distracted by his commitments to the five other companies he controls and isn’t serving the carmaker’s best interests. The group also urged shareholders to vote against the reelection of directors <-bsp-person state="{"_id":"0000018f-9b62-de3b-adcf-dbe3617c0001","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Kimbal Musk — Elon Musk’s brother — and <-bsp-person state="{"_id":"0000018f-9b62-de3b-adcf-dbe3617d0000","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">James Murdoch.

“Tesla is suffering from a ...