Overview

• A coalition of institutional investors holding about 7.9 million Tesla shares sent a letter to board chair Robyn Denholm demanding that Elon Musk work at least 40 hours a week at the company.
• The letter cites a 12 percent year-to-date drop in Tesla’s stock, a 71 percent fall in quarterly profit and a nearly 50 percent plunge in European sales last month.
• Investors argued that Musk’s leadership of the Department of Government Efficiency and high-profile political endorsements have diverted his attention and hurt Tesla’s brand reputation.
• The group also urged the board to disclose a clear CEO succession plan and to appoint at least one truly independent director to strengthen governance.
• Musk has announced plans to scale back his DOGE responsibilities to focus on Tesla, but shareholders say they need formal commitments to restore confidence.