Tesla shareholders voted overwhelmingly to approve a new performance-based stock award for Chief Executive Officer (CEO) Elon Musk. The agreement could be worth approximately $56 billion if the company meets specific financial targets over the next ten years.
The vote concluded a contentious debate about executive compensation at the electric vehicle manufacturer. Musk stated the package was less about the money and more about increasing his voting stake to maintain influence over Tesla’s direction. He had previously suggested he might pursue artificial intelligence and robotics projects elsewhere without a larger company share.
This endorsement comes amid recent challenges, including a new report showing Tesla car sales in Europe fell significantly last month. Despite this, the company’s stock price rose following the announcement of the shareholder decision.
Source: newsghana.com.gh
