Tesla CEO Elon Musk mentioned on the Qatar Financial Discussion board that he would not plan on leaving his position main the EV-maker within the subsequent few years. (Credit score: Bloomberg TV)
Tesla’s head of finance obtained a pay package deal that amounted to greater than most chief executives.
Vaibhav Taneja’s pay package deal final yr notched greater than $139 million, which was tied to inventory choices and fairness awards, in keeping with a regulatory submitting. The determine eclipsed the full compensation {that a} handful of CEOs on the largest corporations by income took house, in keeping with Equilar.
Equilar’s Equilar 100 report contains the most important pay packages awarded to CEOs from U.S.-based or listed corporations with greater than $1 billion in income that filed proxy statements for fiscal yr 2023 by April 30, 2024.
MUSK SAYS HE WILL REMAIN TESLA CEO IN COMING YEARS
Taneja has been with the electric-car maker lengthy earlier than being appointed its CFO in August 2023. Taneja served as its chief accounting officer since March 2019, as company controller from Could 2018 and as assistant company controller between February 2017 and Could 2018.
Tesla autos are on show at a Tesla retailer in Palo Alto, California. (Yichuan Cao/NurPhoto by way of Getty Photographs / Getty Photographs)
AMERICAN CEOS ELON MUSK, SAM ALTMAN, LARRY FINK JOIN TRUMP AT SAUDI ROYAL COURT
Based on a regulatory submitting on the finish of April, Tesla’s board has shaped a particular committee to “consider certain compensation matters” for its prime boss, Elon Musk, who lately declared that he has no plans to step down because the chief of the electrical carmaker.
Vaibhav Taneja has been with the electric-car maker lengthy earlier than being appointed its CFO in August 2023. (REUTERS/Aly Tune / Reuters Photographs)
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“Yes, no doubt about that at all,” Musk mentioned in response to a query about his continued tenure as Tesla’s CEO.
He was requested about whether or not he plans to remain at Tesla as CEO for the subsequent 5 years and whether or not he has any doubts about that.
“Well, no, unless I die,” Musk laughingly replied. “I can’t be CEO if I am dead.”
Ticker Safety Final Change Change % TSLA TESLA INC. 344.19 +2.10
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Musk’s position because the chief of the Division of Authorities Effectivity (DOGE) has raised considerations amongst some buyers about Musk’s give attention to Tesla, in addition to his different companies like SpaceX and xAI, which contributed to a slide in Tesla’s inventory alongside mushy demand for EVs.
As of Tuesday, the corporate’s inventory has slipped greater than 13% yr to this point. Moreover, for the primary time in additional than 10 years, world car deliveries additionally fell within the first quarter.
The automaker introduced in April that its first-quarter deliveries dropped 13% amid slowing client demand for electrical autos (EVs) and controversy surrounding Musk’s political involvement within the Trump administration.
FOX Enterprise’ Eric Revell contributed to this report.
