Austin,TX – Tesla board chair Robyn Denholm defended a proposed $1 trillion compensation package for โขCEO Elon Musk,calling the focus on the sheer dollar amount “a little bit weird”โ in aโ new interview with The New York Times. The package, set for a shareholder vote inโค November, would represent the largest corporate pay package in history, according to Reuters.
Denholm, who โalso served on the special committee that crafted the proposal, suggested Musk is motivated more by the voting influence tied to the Tesla shares than by the wealth itself. This comes as Tesla faces declining profits โand vehicle sales, as reported by TechCrunch.
“It’s a littleโฃ bit weird talking about the โdollars when it’s actually the voting influence,” Denholm โฃsaid, according to The times, which described her as โฃ”occasionally appearing ill at ease” during the conversation.
Denholm emphasized the package is tied to “future performance,” stating, “It’s not about past performance. He gets nothing if he doesn’t perform against the goals.” Though, TechCrunch reported that the performance โฃgoals within the package are less ambitious than previousโข promises made by Musk โregarding Tesla’s growth.