With Tesla shareholders set to vote on a proposed 10-year, $1 trillion compensation bundle 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 instructed he’s much less within the extra wealth that the promised Tesla shares would signify, and extra within the voting energy.
“I feel it’s slightly bit bizarre speaking in regards to the {dollars} when it’s truly the voting affect,” mentioned Denholm, whom The Occasions described as “sometimes showing sick relaxed” throughout the interview.
It may also appear counterintuitive to supply such a large pay bundle when Tesla’s income and automobile gross sales are falling, however Denholm insisted that the plan is about “future efficiency.”
“It’s not about previous efficiency,” she mentioned. “He will get nothing if he doesn’t carry out towards the targets.”
As TechCrunch beforehand famous, the bundle’s targets are significantly much less bold than a number of the guarantees Musk has made about Tesla up to now.
