Tesla board chair calls debate over Elon Musk’s $1T pay package ‘a little bit weird’

With Tesla shareholders set to vote on a proposed 10-year, $1 trillion compensation package deal for CEO Elon Musk in November, board chair Robyn Denholm spoke to The New York Times to defend what can be the largest pay package in corporate history.

Denholm, who was additionally on the particular committee that put the compensation proposal collectively, argued that Musk must be motivated by extraordinary challenges tied to extraordinary compensation. On the identical time, she urged he’s much less within the extra wealth that the promised Tesla shares would signify, and extra within the voting energy.

“I believe it’s a little bit bit bizarre speaking in regards to the {dollars} when it’s really the voting affect,” mentioned Denholm, whom The Occasions described as “sometimes showing ailing comfortable” in the course of the interview.

It may additionally appear counterintuitive to supply such a large pay package deal when Tesla’s profits and vehicle sales are falling, however Denholm insisted that the plan is about “future efficiency.”

“It’s not about previous efficiency,” she mentioned. “He will get nothing if he doesn’t carry out towards the objectives.”

As TechCrunch beforehand famous, the package’s goals are considerably less ambitious than a number of the guarantees Musk has made about Tesla previously.