Tesla shareholders complain, Musk has no time to run the company

A group of progressive Tesla shareholders are requesting that the company’s board of directors urge CEO Elon Musk to focus more on running the electric vehicle automaker. The group claims that Musk’s divided attention and time management are affecting Tesla’s ability to compete with other automakers and address allegations of a toxic work environment. The group, which includes Amalgamated Bank and Sisters of St. Joseph of Carondelet, own a combined $1.5 billion worth of Tesla shares, equivalent to less than 1% of the company’s shares. The letter does not provide any specific solutions to address the issues. However, the group is calling for a more independent and responsive board to ensure that Musk concentrates on Tesla’s challenges. The investors are not advocating for Musk’s replacement, but some analysts suggest a new pay package for Musk to demonstrate that Tesla remains his top priority. Nonetheless, the group disagrees with this proposal, stating that throwing more money at the CEO is not the solution.