<p> Proxy adviser Institutional Shareholder Services Inc (ISS) on Monday urged Tesla Inc shareholders to vote against the re-election of chairwoman Robyn Denholm at the electric carmaker's annual meeting next month.</p>.<p>The firm expressed concerns over Denholm's leadership, citing consecutive years of high compensation for directors, without a reasonable rationale, and a steep rise in share pledging by certain Tesla directors and executives, during her time.</p>.<p>Denholm, a company director for nearly six years, has been the chairwoman since November 2018. She is also a member of Tesla's audit and compensation committee.</p>.<p>"The significant number of pledged shares raises concerns regarding the audit committee's ability to effectively oversee risk at the company," ISS said.</p>.<p>It said the aggregate number of pledged Tesla shares increased by 35.6%, or about 4.9 million shares, over the last year, and represented 10.43% of outstanding shares with a value of about $7.9 billion. "The percentage of outstanding shares that is pledged raises significant concerns, which are exacerbated by the high degree of volatility in Tesla's share price," ISS said. </p>
<p> Proxy adviser Institutional Shareholder Services Inc (ISS) on Monday urged Tesla Inc shareholders to vote against the re-election of chairwoman Robyn Denholm at the electric carmaker's annual meeting next month.</p>.<p>The firm expressed concerns over Denholm's leadership, citing consecutive years of high compensation for directors, without a reasonable rationale, and a steep rise in share pledging by certain Tesla directors and executives, during her time.</p>.<p>Denholm, a company director for nearly six years, has been the chairwoman since November 2018. She is also a member of Tesla's audit and compensation committee.</p>.<p>"The significant number of pledged shares raises concerns regarding the audit committee's ability to effectively oversee risk at the company," ISS said.</p>.<p>It said the aggregate number of pledged Tesla shares increased by 35.6%, or about 4.9 million shares, over the last year, and represented 10.43% of outstanding shares with a value of about $7.9 billion. "The percentage of outstanding shares that is pledged raises significant concerns, which are exacerbated by the high degree of volatility in Tesla's share price," ISS said. </p>