DETROIT >> Tesla will ask shareholders to reinstate a $56 billion compensation package for CEO Elon Musk that was rejected by a judge in Delaware this year, and to move the electric car maker’s corporate home from Delaware to Texas.
Tesla is set to ask its shareholders to once again vote on approving the controversial 2018 pay package for CEO Elon Musk, which was recently thrown out by a Delaware judge.
Delaware court in nullified compensation deal based on carmaker’s market value in January, calling it ‘unfathomable sum’Tesla on Wednesday asked its shareholders to once again approve CEO Elon Musk‘s record-breaking $56bn pay that was set in 2018. A Delaware judge rejected the pay package in January, calling it excessive and saying the company’s board failed to justify it.The compensation includes no salary or cash bonus, but sets rewards based on Tesla’s market value rising to as much as $650bn...
After Tesla experienced its first sales drop in four years, CEO Elon Musk told shareholders that the electric car company would start producing more affordable electric cars ahead of schedule.
The proposals come amid a difficult stretch for Tesla, whose shares have fallen 37% so far in 2024.
Tesla board calls June 13 shareholder vote on Musk's pay and move to Texas.
Tesla CEO Elon Musk at one point wanted the EV giant to trim its workforce by 20%, Bloomberg reported on Sunday, citing a person familiar with the matter.The reduction, Musk reasoned, should match the reduction in vehicle deliveries between the fourth quarter of 2023 and the first quarter of 2024, per Bloomberg.Earlier this month, Tesla said it delivered 386,810 cars in the first quarter of 2024, a 20.1% drop from the previous quarter. The delivery drop was the company's lowest quarterly...
The news that the truck's accelerator pedal can get stuck and cause a crash
The board is asking shareholders to approve Musk’s compensation package after it was struck down by a Delaware judge.
Elon Musk, CEO of Tesla, is being called upon to clarify the circumstances surrounding the recent layoffs at the company. The move comes in the wake of a challenging period for the electric vehicle giant, with investors seeking reassurances. read more
Elon Musk may be living on borrowed time as CEO of Tesla, as the Cybertruck stalls and the stock falls. Why price cuts won't help.
Tesla CEO Elon Musk faces heightened pressure with Tuesday's earnings report to reassure investors that recent stumbles are simply unexpected speed bumps -- and not indications of a road to decline.The electric car maker, which enjoyed scorching growth for most of 2022 and 2023, has experienced setbacks that analysts say have raised the stakes for the first-quarter report.Tuesday's earnings and conference call are a moment of truth for Tesla and Musk, constituting one of the most important...