Overview

• Robyn Denholm said Musk’s political activity is his personal choice and argued Tesla demand is driven by customers’ affinity for the product.
• She said Musk is now “front and center” at Tesla after spending several months at the White House earlier this year.
• Tesla directors previously acknowledged concerns about distraction and sought assurances that Musk’s political involvement would wind down.
• The board last week disclosed an unprecedented $1 trillion pay-related offer, described as a zero-compensation plan unless ambitious goals are met.
• Denholm outlined 12 tranches tied to operational and market-cap milestones up to $8.5 trillion, with targets including 20 million vehicles, 10 million paid FSD subscriptions, and one million robots and robotaxis; Tesla shares rose Friday as investors also tracked Nevada robotaxi testing approval.