Austin,TX – Tesla board chair Robyn Denholm defended a proposed $1 trillion compensation package for CEO Elon Musk,calling the focus on the sheer dollar amount “a little bit weird” in a new interview with The New York Times. The package, set for a shareholder vote in November, would represent the largest corporate pay package in history, according to Reuters.
Denholm, who also 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 and vehicle sales, as reported by TechCrunch.
“It’s a little bit weird talking about the dollars when it’s actually the voting influence,” Denholm said, according to The times, which described her as ”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 goals within the package are less ambitious than previous promises made by Musk regarding Tesla’s growth.
