Tesla Eyes Internal Succession Plan Before Musk $1T Pay Vote

Tesla’s board has unveiled a clear succession plan ahead of the November 6 shareholder vote on Elon Musk’s $1 trillion compensation package. Chair Robyn Denholm confirmed direct talks with Musk and said the board would promote an internal candidate—most notably Tom Zhu, who oversees global production in China—to ensure stability. This Tesla succession plan could reassure investors by demonstrating strong corporate governance. The compensation plan links Musk’s pay to ambitious growth milestones in electric vehicles, robotics and a future robotaxi network. Despite opposition from proxy advisers ISS and Glass Lewis, the board is lobbying major investors including Vanguard and BlackRock. If shareholders reject the pay vote, Musk may shift focus to SpaceX and xAI, and Tesla would swiftly appoint a new CEO. Analysts say robust succession planning can reduce stock volatility by around 20%, reinforcing Tesla’s governance.