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Elon Musk’s $45-billion pay package from Tesla, which could significantly increase his stake in the company, is under legal scrutiny for lack of fairness to shareholders[3][4]. Despite Musk achieving ambitious targets, a US court ruled the package invalid due to improper disclosures and the board’s lack of independence[4]. The recent re-vote, which saw 72% of now-well-informed shareholders backing the remuneration package, has no legal standing but is expected to influence the court when it hears Tesla’s appeal against the invalidity ruling[5].

The impact of Musk’s remuneration award will be felt far beyond corporate America[5]. Executive remuneration has viral-type characteristics with a devastating global reach that ensures that any US developments invariably pop up in South Africa, usually after passing through the UK[5]. Musk’s pay will be used as an additional prop to support the contention that CEOs are rare and precious and that their position at the top rung of the ladder is the work of a finely tuned market where supply meets demand at an excessive level of remuneration[5]. The carriers of the remuneration virus are the remuneration consultants and remuneration committee members who constitute the global remuneration industry[5].

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