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 Occasions to defend what could be the most important pay bundle 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 identical time, she urged he’s much less within the further wealth that the promised Tesla shares would signify, and extra within the voting energy.
“I feel it’s a bit of bit bizarre speaking in regards to the {dollars} when it’s truly the voting affect,” stated Denholm, whom The Occasions described as “often showing in poor health comfy” through the interview.
It may also appear counterintuitive to supply such an enormous pay bundle when Tesla’s income and car 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 in opposition to the objectives.”
As TechCrunch beforehand famous, the bundle’s objectives are significantly much less bold than a number of the guarantees Musk has made about Tesla prior to now.
