Tesla Chairman Robin Denholm appealed to shareholders to support a proposal to pay Elon Musk a $56 billion compensation package.
Shareholders must decide on June 13 whether to pay Musk a bonus. Otherwise he will leave the company.
Elon is not a typical leader, and Tesla is not a typical company. Consequently, the typical way the company rewards top executives is not producing results for Tesla. Motivation for people like Elon requires something different.
We all know that Elon is one of the richest men on the planet and he will suffer even if Tesla reneges on the commitments we made in 2018.
— Denholm in a letter to shareholders that was filed with the Securities and Exchange Commission
This will be the second vote. The first decision was stayed in Delaware court.
Denholm noted the unique qualities of the Mask and ordered his support. Otherwise, he may “lose motivation and go elsewhere.” [The Verge]
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