ISS urges Tesla buyers to oppose the re-election of Murdoch, Kimbal Musk

© Reuters. FILE PHOTO: The Tesla automaker logo can be seen at a car dealership in London, United Kingdom on May 14, 2021. REUTERS / Matthew Childs

(Reuters) – Proxy consulting firm Institutional Shareholder Services has called on Tesla (NASDAQ 🙂 Inc. shareholders to vote against the election of Elon Musks' brother, Kimbal, and media chief James Murdoch to the electric car maker's board of directors.

ISS cited "excessive compensation concerns" in a notice to its customers late last week for recommending that they vote against re-election at the annual general meeting due to be held virtually at Tesla's facility in Austin, Texas on October 7th.

The consultancy also cited the board's "inadequate responsiveness" to a shareholder proposal and concerns about its oversight of the pledging of a "significant portion of the company's stock by certain directors" to vote against Murdoch, a member of the governance and audit committee .

Kimbal Musk and Murdoch have been part of Tesla's nine-person board of directors since 2004 and 2017, respectively.

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