Dear subscribers,
I thought I had seen it all in terms of self-negotiation of remuneration by a CEO of a listed company with Carlos Ghosn at Nissan, but the Elon Musk case is not bad either.
Last week, a court in the state of Delaware, where Tesla is officially registered, annulled the $56 billion compensation plan concocted and approved by the automaker's board of directors for its boss in 2018. a clap of thunder, and not just because it involves Musk and Tesla.
It is also because Delaware is a mecca for business law and governance, with 328 of the 470 listed Fortune 500 companies registered in the state and an influence on corporate practice that goes far beyond the borders of the United States.
Musk threatens to move his company's legal headquarters to Texas.
The plan called for granting 1% of Tesla's capital to Elon Musk each time the market capitalization increased...
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