Electric carmaker’s CEO faces crunch vote before its AGM over biggest pay package in US corporate history
Elon Musk has claimed Tesla shareholders are voting by a wide margin to approve his $56bn (£44bn) compensation package before the electric carmaker’s crunch annual general meeting later on Thursday.
The pay package, which is the highest ever awarded to the chief executive of a US company, is subject to an investor ballot after it was thrown out by a US judge earlier this year. Shareholders will also vote on Musk’s proposal to move the legal base of the electric carmaker to Texas.
A number of investors including Norway’s sovereign wealth fund and the California State Teachers’ Retirement System have already indicated they will reject the pay package.
