Why Elon Musk’s ‘self-driving’ of Tesla’s board and its decision to pay him $56B collided with the law – and what happens next
Delaware Chancery Court Judge Kathaleen St. Jude McCormick has blocked Elon Musk’s US$55.8 billion pay package, which Tesla’s board of directors approved in 2018 through a process she found to be “deeply flawed.” No CEO of a publicly traded U.S. company has ever been paid this much for one year’s work, according to Equilar, which tracks corporate leadership data. Pay for the 10 highest-paid executives, including Google’s Sundar Pichai and Apple’s Tim Cook, reportedly maxed out at around $250 million in 2022. The Conversation asked Justin P. Klein, the director of the Weinberg Center for Corporate Governance at the University of Dela...... Read Full article on HadNews