Investment Strategist Criticizes Proxy Firms Over Tesla CEO Compensation Vote
ARK Invest CEO Cathie Wood has launched a strong critique against proxy advisory firms recommending shareholders reject Elon Musk’s proposed compensation package. The investment manager argues that index funds’ outsized voting power represents a “broken” system that threatens innovation at companies like Tesla.
High-Stakes Compensation Battle
Investment manager Cathie Wood has publicly criticized proxy advisory firms for their recommendations against Elon Musk’s proposed $1 trillion compensation package at Tesla, according to reports. In social media posts, Wood described the situation as “sad, if not damning” and questioned the influence these firms wield over shareholder voting processes.
