🔥Hot news! New York City Comptroller Brad Lander recently issued a warning to Tesla CEO Elon Musk⚠️, believing that Tesla, as a public company, should no longer act like a family business led by Musk. 👀
Lander oversees a public pension fund with an asset management scale of up to $242 billion. He said that the CEO of a truly independent board should not be a person who is also the CEO of two other large companies. 🤔
Lander and a coalition of seven other investors urged Tesla shareholders to vote down Musk's $47 billion stock option plan at the June 13 shareholders' meeting. They submitted a notice this week outlining a series of concerns about corporate governance and Musk's "sky-high" compensation. 😱
Lander believes that Musk is not working full-time at Tesla and his attention is distracted by his other companies, including SpaceX, The Boring Company, xAI, X and Neuralink. He warned that Tesla's approach could have an impact on other companies and founders, who would rather closely control their own companies while entering the capital markets. 🚀
He added that Americans are lucky to have had prosperous capital markets for generations, thanks to a model of independent governance. But he warned that this is not the case with Tesla. He said that although he and other investors have not lobbied to replace Musk, Tesla's CEO can "absolutely" be replaced. 🔄
All this is happening, let's wait and see! 💥