Tesla Board Considers Internal CEO Successor Amid Musk $1 Trillion Pay Package Vote

Tesla's board, led by Chairwoman Robyn Denholm, is preparing for the possibility that CEO Elon Musk may step down if shareholders reject his unprecedented $1 trillion compensation package, which includes ambitious stock incentives tied to major achievements in autonomous driving and robotics. Denholm has emphasized Musk's critical role in Tesla's future and urged investors to support the package, warning that Musk might reduce his involvement with Tesla or focus on other ventures like SpaceX and xAI if the deal fails. To ensure continuity, Tesla is considering promoting a new CEO from within, with key internal leaders such as CFO Vaibhav Taneja and SVP Tom Zhu seen as probable candidates, though external options have not been completely ruled out. The compensation proposal grants Musk a 25% stake in the company contingent on reaching aggressive growth and valuation targets, underscoring his central influence on Tesla's strategic direction and investor confidence. Despite the board's efforts, proxy advisory firms have recommended voting against the package, adding pressure ahead of the November 6 shareholder vote. Tesla continues to maintain robust financial health and market dominance in the electric vehicle sector, even as it braces for potential leadership changes and strategic shifts.