Tesla shareholders are scheduled to vote for the 10-year, $1 trillion remuneration package proposed for CEO Elon Musk in November, board chair Robyn Denholm spoke to the New York Times to defend what would be the biggest pay package in corporate history.
Denholm, who was present at the special committee that compiled the compensation proposals, also argued that masks need to be motivated by the extraordinary challenges associated with extraordinary compensation. At the same time, she suggested that he was less interested in the additional wealth represented by the promised Tesla stock.
“I think it’s a bit strange to talk about the dollar when it’s actually the influence of the vote,” said Denholm, who said during the interview that the Times “could sometimes look sick.”
Also, offering such a large pay package might seem counterintuitive if Tesla’s profits and vehicle sales are declining, but Denholm argued that the plan is about “future performance.”
“It’s not about past performances,” she said. “If he doesn’t oppose his goal, he won’t get anything.”
As TechCrunch pointed out earlier, the package’s goals are much less ambitious than some of the promises Musk has made about Tesla in the past.
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