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 Occasions to defend what could be the most important pay package deal in company historical past.
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 similar time, she steered he’s much less within the further wealth that the promised Tesla shares would signify, and extra within the voting energy.
“I believe it’s somewhat bit bizarre speaking in regards to the {dollars} when it’s really the voting affect,” stated Denholm, whom The Occasions described as “sometimes showing in poor health comfy” through the interview.
It may also appear counterintuitive to supply such an enormous pay package deal when Tesla’s earnings and automobile gross 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 towards the targets.”
As TechCrunch beforehand famous, the package deal’s targets are significantly much less bold than among the guarantees Musk has made about Tesla prior to now.
