To some analysts and investors, Ms. Denholm is the adult in the room who has helped Mr. Musk turn Tesla into the world's most valuable automaker. But to her critics, she has failed at her most important job: serving as a check on Mr. Musk.
Ms. Denholm took a lackadaisical approach to her oversight obligations at Tesla, said Chancellor Kathaleen St. J. McCormick of the Delaware Court of Chancery. The judge also questioned whether Ms. Denholm could be independent from Mr. Musk, because her job on Tesla's board had earned her more than $280 million. In court last year, Ms. Denholm described that pay as life changing.
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