Tesla's chairman said it is "a bit strange" that controversy surrounds Musk's $100 billion compensation plan.
In November, Tesla shareholders will vote on a proposed 10-year, $100 billion compensation plan for CEO Elon Musk. In this context, Tesla's board chairman, Robin Denholm, gave an interview defending what is expected to be the highest compensation plan in corporate history. Denholm, who is also a member of the special committee that drafted the compensation plan, believes that Musk needs significant challenges linked to his super high compensation in order to be motivated. At the same time, she stated that Musk is not very interested in the additional wealth represented by the Tesla stock promised in this commitment, but rather in the voting rights attached to the stock. "I think the core issue is clearly voting influence, yet we are talking about the amount, which is a bit strange," Denholm said. With Tesla's profits and car sales both declining, launching such a massive compensation plan at this time may seem illogical, but Denholm insists that the plan focuses on "future performance."
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