Tesla Investors Push Musk for Greater Commitment

A coalition of major Tesla investors, including pension funds and institutional shareholders, has demanded that CEO Elon Musk commit at least 40 hours per week to Tesla, citing concerns over declining sales, a damaged global reputation, and stock price volatility. The investors attribute Tesla's current struggles to Musk's divided attention, particularly his leadership roles in other ventures and his involvement as head of the Department of Government Efficiency (DOGE) in the Trump administration. They are urging Tesla’s board to enforce stricter governance, appoint an independent director without ties to Musk, and create a clear CEO succession plan. The letter also highlights that Musk’s controversial political affiliations and public statements have harmed Tesla’s brand. Musk has acknowledged spending too much time on politics but has mocked the investors' demands, emphasizing he hasn't been paid by Tesla since 2018. The investors’ call, although coming from a group with a small stake, reflects broader discontent with Musk’s leadership and its effects on Tesla’s outlook.