Tesla backs Musk pay after ISS urges shareholders to reject package

Tesla backs Musk pay after ISS urges shareholders to reject package

FILE PHOTO: Tesla CEO Elon Musk and his security detail depart the company’s local office in Washington, U.S. January 27, 2023. REUTERS/Jonathan Ernst/File Photo

Tesla on Monday defended a proposal to ratify CEO Elon Musk‘s $56 billion pay package and said a new compensation would be costlier, days after a top proxy advisory firm recommended shareholders to vote against the proposal.