Tesla asks shareholders to reapprove huge Musk pay deal

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Elon Musk أخبار

Tesla

NEW YORK, April 18 ― Electric vehicle maker Tesla will ask its shareholders to vote again on a US$56 billion (RM268.4 billion) compensation package they had approved in 2018...

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Musk's payout ― worth as much as US$55.8 billion in 2018 ― was voided in January by a Delaware court, ruling on a complaint by an individual shareholder alleging that Musk had dictated his terms to the board, which was not sufficiently independent from its star CEO.In the filing with the Securities and Exchange Commission, Denholm expressed the board's continued opposition to the court ruling, insisting it was not how corporate law “should or does” work.

For Brian Dunn, a lecturer at Cornell University specialised in compensation studies, “no truly independent board would ever grant a package of this size to the CEO of a company that is clearly struggling.”

 

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