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Elon Musk's legal battle for his $56bn pay award goes on, and Tesla's board still looks supine
The Guardian
|December 04, 2024
The first time around, the judge Kathaleen McCormick of the Delaware court of chancery got it right. The $56bn (£44bn) pay package awarded by Tesla to Elon Musk in 2018 was indeed a governance abomination, a stitch-up in which ordinary shareholders weren't told about the "deeply flawed" process whereby a "superstar CEO" secured wildly over-the-top terms from pliant directors.
Her closely-argued ruling in January spelled it out in persuasive detail. The company had "inaccurately described key directors as independent and misleadingly omitted details about the process".
Ira Ehrenpreis, the lead director negotiating for Tesla, had a 15-year business relationship with Musk. Another member of the working group regularly went on holiday with Musk's family. A third was the company's general counsel and Musk's former divorce lawyer.
Denne historien er fra December 04, 2024-utgaven av The Guardian.
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FLERE HISTORIER FRA The Guardian
The Guardian
Sinner hits out at grand slams over player welfare talks
Jannik Sinner has criticised the grand slam tournaments for failing to engage with repeated requests from the world’s top stars to discuss prize money and welfare benefits for lower-ranked players.
2 mins
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The Guardian
Ministers given warning not to scapegoat prison staff for release of sex offender
prisoners being released early, in error or even late, was an “endemic problem” that needed to be fixed by Prison Service leaders.
2 mins
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The Guardian
Advertising Diversity and profits climb as firms cash in on change
Sarah Pochin's claim on Saturday that she was driven mad by \"seeing adverts full of black and Asian people\" might have seemed like another hard right hard sell from a politician who used one of her first sessions in parliament to ask Keir Starmer if he'd \"ban the burqa\".
2 mins
October 28, 2025
The Guardian
China spy row Case collapsed over lack of 'critical element', says DPP
Government evidence in the China espionage trial was missing a “critical element”, which meant there was “no other option” but to drop the case, prosecutors said yesterday.
3 mins
October 28, 2025
The Guardian
Sinner wants slams to be 'fair' on prize money
right now. The grand slams are the biggest events and generate most of the revenue in tennis, so we are asking for a fair contribution to support all players, and for prize money that better reflects what these tournaments earn. We want to work together with the slams to find solutions that are good for everyone in tennis.”
1 min
October 28, 2025
The Guardian
Nige shows Racist of the Week frontrunner his forgiving side
It's the hottest competition in Westminster.
3 mins
October 28, 2025
The Guardian
Humanity has 'failed' on 1.5C rise - UN chief
Humanity has failed to limit global heating to 1.5C and must change course immediately, the secretary general of the UN has warned.
4 mins
October 28, 2025
The Guardian
Generation game Farrell returns to an Ireland side who must prove they remain a real force
One minute we're winding the clocks back an hour, the next we're hurtling forwards into rugby's maddest month.
4 mins
October 28, 2025
The Guardian
Balloons sent by Belarusians will be shot down, says Lithuania's PM
Lithuania's prime minister has authorised the shooting down of smuggling balloons that cross the border from Russia's ally Belarus, calling them \"hybrid attacks\", in an echo of the term used to describe Moscow's destabilisation efforts.
2 mins
October 28, 2025
The Guardian
Taxing times How Reeves could bring down inflation and give boost to households
After nearly four years of the cost of living crisis, Rachel Reeves is well aware of the harm inflation is inflicting on British households - and on Labour's share of the vote.
4 mins
October 28, 2025
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