Tesla’s board is negotiating a new pay deal for CEO Elon Musk, according to a published report, in what represents a challenge given that his personal involvement represents both positive and negative implications for the company.

Tesla's board has formed a special committee to review CEO Elon Musk's compensation, which could result in a new stock options package, the Financial Times reported on Wednesday. The two-member committee comprises Tesla board Chair Robyn Denholm and independent board member Kathleen Wilson-Thompson,

Elon Musk has called the Wall Street Journal report a "deliberately false article" and an "extremely bad breach of ethics."