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. “Votes AGAINST directors James Murdoch and Kimbal Musk are warranted due to concerns regarding excessive compensation to named executive officers and to non-executive directors,” ISS wrote in a report sent to clients last week. Murdoch, who was chief executive officer of 21st Century Fox and is the son of media magnate Rupert Murdoch, and Kimbal Musk, a restaurant entrepreneur and brother of Tesla CEO Elon Musk, are both running for reelection to the board. The board currently has …
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