Tesla board chair calls debate over Elon Musk’s $1T pay package deal ‘just a little bit bizarre’
With Tesla shareholders set to vote on a proposed 10-year, $1 trillion compensation package deal for CEO Elon Musk in November, board chair Robyn Denholm spoke to The New York Times to defend what can be the largest pay package in corporate history.
Denholm, who was additionally on the particular committee that put the compensation proposal collectively, argued that Musk must be motivated by extraordinary challenges tied to extraordinary compensation. On the identical time, she advised he’s much less within the extra wealth that the promised Tesla shares would characterize, and extra within the voting energy.
“I believe it’s just a little bit bizarre speaking in regards to the {dollars} when it’s truly the voting affect,” stated Denholm, whom The Instances described as “sometimes showing ailing comfy” throughout the interview.
It may also appear counterintuitive to supply such an enormous pay package deal when Tesla’s profits and vehicle sales are falling, however Denholm insisted that the plan is about “future efficiency.”
“It’s not about previous efficiency,” she stated. “He will get nothing if he doesn’t carry out in opposition to the objectives.”
As TechCrunch beforehand famous, the package’s goals are considerably less ambitious than a few of the guarantees Musk has made about Tesla up to now.
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