Odaily Planet Daily News New York City Comptroller Brad Lander conveyed the following message to Tesla's board of directors and CEO Elon Musk: Tesla is a public company, so it should no longer act like a family business with Musk at the helm. It is reported that Lander is responsible for overseeing 5 public pension funds with an asset management scale of 242 billion US dollars. Lander said: "I don't think a CEO of a truly independent board will be held by a person who is also the CEO of two other large companies. All other large public companies with truly independent boards of directors - many of which are not so independent - want their CEO to be the full-time CEO of the company." 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 (his compensation plan was initially valued at $55.8 billion, but it fluctuates with the performance of the company's stock price). Investors submitted a notice this week, setting out a series of concerns about corporate governance and what Lander called Musk's "sky-high" compensation. One reason is that Musk is not working full-time at Tesla, Lander said, adding that Musk's attention is undoubtedly divided by his other companies, including SpaceX, The Boring Company, xAI, X and Neuralink. In Lander's view, Tesla's approach could have an impact on other companies and founders who would rather keep close control of their companies while accessing the capital markets. "This is not shareholder governance as envisioned by shareholder capitalism," he said. He added that Americans have been lucky to have prosperous capital markets for generations, thanks to a model of independent governance in which shareholders can invest and trust that board members will serve as their independent representatives on the company's management team. But he warned that this is not the case with Tesla: "It's rare to see independent shareholder governance flaunted like this." Lander said that while he and other investors have not lobbied to replace Musk, the Tesla CEO "absolutely" could be replaced. However, he would prefer that the board negotiate an "appropriate compensation package" with Musk and that Musk can provide Tesla with the attention and focus that the job requires.(Fortune)