Robert DeNorm, chairman of Tesla, warned shareholders on October 27 that if Elon Musk¡¯s 10-year pay plan is not approved, Musk could leave his job.

According to the Fortune website and the Defense News Agency, DeNorm wrote in the letter that without Musk, ¡°Tesla could lose significant value.¡±If Tesla fails to create an environment ¡°by achieving great goals through a fair performance remuneration scheme (motivated by Musk), Musk could resign as CEO, and Tesla would lose his talent and vision.

Tesla requires shareholders to complete voting on key matters such as compensation plans by midnight on November 5, so that votes can be counted during the annual shareholders 'meeting the next day. Denome said that the vote was a "key turning point" for Tesla and that Musk's "unique" leadership was irreplaceable, especially as the company transformed from an "ordinary vehicle manufacturer" to a "smart driving vehicle and robot manufacturer." Musk has said that Tesla's future lies in self-driving taxis and artificial intelligence robots.

Tesla announced a 10-year compensation plan customized for Musk on September 5. The plan sets challenging phased goals for Tesla's future development. If Musk can complete all 12 goals, he is expected to acquire 12% of Tesla shares. By then, Tesla's market value is expected to reach 8.5 trillion US dollars, and Musk's stock market value will reach 1 trillion US dollars.

In an interview with U.S. media, DeNorm said that if Musk failed to accomplish these goals, nothing would be gained.

Tesla formulated a similar salary plan for Musk in 2018. Musk completed his performance target several years ahead of schedule, but the more than $50 billion in salary he should have received has not been released by the U.S. court.

Some consulting firms havely suggested that Tesla shareholders oppose Musk¡¯s remuneration scheme on grounds of large amounts and lack of independence of the board.