Tesla shareholders to vote on CEO Elon Musk’s proposed 10-year, $1 trillion compensation plan in November, chairman of the board Robyn Denholm talks to The New York Times What to defend The largest compensation plan in the company’s history.
Denholm also serves on the Special Committee, which puts together compensation proposals, believes Musk needs motivation to be subject to extraordinary challenges related to extraordinary compensation. Meanwhile, she suggested he was interested in the extra wealth represented by the promised Tesla stock, and more on voting rights.
“I think it’s a little weird to talk about the dollar when it’s actually the dollar when it’s the votes impact,” Denholm said in an interview, describing him as “an occasional relaxed frustration.”
When providing such a huge salary plan, Tesla’s profits and vehicle sales are fallingbut Denholm insists that the plan is about “future performance.”
“It has nothing to do with past performance,” she said. “If he doesn’t break his goal, he gets nothing.”
As TechCrunch previously pointed out, Packaging goals ambitious Musk’s past commitments to Tesla are more than some.
