After the deal was struck down in court in January, investors will be asked to endorse it again this week
Tesla’s shares are down 28% this year. It has warned of “notably” slower growth as sales in its second-largest market, China, fall. A defect forced a recall of its highly anticipated latest product. The chief executive spends a lot of time at other companies or generating controversy. How do you reward him? With a record-breaking $56bn pay deal, if Tesla gets its way at its annual meeting on Thursday.
Elon Musk’s pay package – the largest ever granted to an executive at a US-listed company – is not based on Tesla’s current, or future, performance. It was granted in 2018, and built around targets for Tesla’s stock value, revenue and profitability.
About Author
More Stories
Microsoft employee interrupts CEO’s keynote with pro-Palestinian protest
Sing when you’re winning: how karaoke in cars heralds the triumph of Chinese firms
TikTok breached EU advertising transparency laws, commission says