The Tesla board of directors that created the largest compensation package in history for CEO Elon Musk was stocked with friends of Musk, according to court testimony.
“Yes we’re friends,” former Tesla board member Antonio Gracias said after a long line of questions about his relationships with Elon Musk and his brother Kimbal Musk, who is also on Tesla’s board. “Yes, I mean, yes, yes, yes, yes.” This potential conflict of interest may be problematic as Tesla says its board of directors has a legal responsibility for shareholders’ money in addition to overseeing management, which includes Elon Musk. Plaintiff Richard J.
“Even though I believe in Tesla deeply I felt the level of difficulty of these milestones was so high that for a mere mortal like me, I did not find this as a compelling incentive plan at a personal level,” former Tesla chief financial officer Deepak Ahuja testified earlier this week.
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