Tesla's stock has surged over 16% this week, marking its fourth consecutive week of gains. This rebound follows the announcement of a new pay package for CEO Elon Musk and the addition of Jack Hartung, president of Chipotle, to Tesla's board of directors. The stock is now down only 13.7% for the year, recovering from a significant drop of over 40% earlier. Musk's recent social media posts celebrate this positive trend, indicating a renewed investor confidence in the company.

The addition of Hartung to the board is seen as a strategic move to enhance governance and address recent criticisms regarding board independence and compensation practices. Tesla's board has faced scrutiny over Musk's pay package, which is currently under review, and the company is exploring alternative compensation methods. This governance shift may help restore investor trust and stabilize Tesla's market position amid ongoing challenges in the electric vehicle sector.