(Reuters) – Tesla shareholders are voting to approve a $56 billion pay package for its CEO Elon Musk by wide margins, the billionaire said on social media on Wednesday.
The company’s attempt to seek a shareholder re-vote on the record-breaking pay has put the spotlight on CEO compensation in corporate America.
Here are what some people are saying about it:
SANDEEP RAO, SENIOR RESEARCHER AT LEVERAGE SHARES WHICH OWNS TESLA SHARES
“This vindicates Musk and allays some investor concerns around his waning interest in Tesla, but major institutional shareholders who are opposing the pay package might seek value elsewhere due to their concerns around the size of package, especially given Tesla’s recent disappointing performance and rising competition.”
GREG ABBOTT, TEXAS GOVERNOR
“Congrats Elon on getting the pay you were promised and on your new incorporation in Texas.
“Welcome to a state that has neither a personal nor a corporate income tax.”
ADAM BADAWI, LAW PROFESSOR AT UC BERKELEY
“Even if the shareholders do approve the old package, it is not clear that the Delaware court will allow that vote to be effective.”
(Reporting by Abhirup Roy and Abinaya Vijayaraghavan; editing by Miral Fahmy)
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