Cathie Wood, CEO of Ark Invest Management and a vocal supporter of Tesla Inc. TSLA and its CEO Elon Musk, criticized the Delaware Chancery Court Judge Kathleen McCormick‘s decision to nullify Musk’s 2018 compensation plan. Musk himself shared Wood’s interview on X, seemingly endorsing her views.
Wood Backs Tesla’s Move to Texas: Wood, in an interview with Yahoo Finance, called the judge’s decision “un-American” and “anti-investor,” arguing that it disregarded the 73% shareholder vote in favor of the $56 billion pay package.
“And to have the judge kind of thinking that she is reading the minds of directors, and independent, dependent, whatever I just think, as I said in a post on X, I think it’s un-American, It’s anti-investor and it’s an insult to the board of directors of Tesla,” she said.
Wood fully expressed support for Tesla’s relocation to Texas.
Seemingly impressed by Wood’s defense, Musk shared a clip of the interview on X, amplifying her criticisms to his social media followers.
See Also: Everything You Need To Know About Tesla Stock
Wood Defends Musk’s Voting Control Demand: When asked if Tesla was being held hostage to Musk’s demand for 25% voting control, Wood disagreed.
“Being involved in disruptive innovation and only disruptive innovation, we know that we need visionary leaders who will stand up to short-term oriented shareholders and be able to execute their vision with the right technologies at the right time,” she said.
“And Elon Musk is the inventor of our age. And he is also our Renaissance man. So I’m always surprised at the pushback he receives.”
Wood highlighted that Musk seeks only voting control, not financial gain. She expressed support for “super voting rights” for visionary leaders facing short-term volatility, arguing that boards swayed by short-term investors can hinder long-term vision.
Tesla ended Friday’s session down 0.25% at $199.95, according to Benzinga Pro data.
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Read Next: Elon Musk Set To Appeal Tesla Compensation Ruling: Title Of World’s Richest Person At Stake
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