Lates News

In November, Tesla shareholders will vote on a proposed 10-year, $1 trillion compensation plan for CEO Elon Musk. Against this backdrop, Tesla's board chairman, Robin Dennholm, defended what could become the highest compensation plan in corporate history in an interview. Dennholm, who is also a member of the special committee that drafted the compensation plan, believes that Musk needs significant challenges tied to high compensation in order to be motivated. At the same time, she stated that Musk is not particularly interested in the additional wealth represented by the Tesla stock in this commitment, but rather focuses on the voting rights attached to the stock. "I think the core issue is clearly about voting power, but we have to talk about the amount, which is a bit strange," Dennholm said. Currently, Tesla's profits and car sales are declining, and introducing such a huge compensation plan may seem illogical. However, Dennholm insists that the plan is focused on "future performance".