CEO PAY PACKAGES
CEO posts about his 'honest' firing approach on LinkedIn, faces backlash online
Matthew Baltzell, CEO of Cap X Media, faced a social media backlash after posting about firing an employee on LinkedIn. His 10-minute meeting with the employee, offering a severance package and a future reference, was seen as both professional and insensitive by different users. While some praised his transparency, others criticized his approach as tone-deaf and unprofessional. Baltzell emphasized the importance of handling exits with respect and maintaining a positive company culture.
How Elon Musk's $44.9 billion Tesla pay package compares with the most generous plans for other US CEOs
Elon Musk won't get access to the stock options just yet, even with the reapproval vote. In 2018, January Delaware Judge said the shareholders weren't informed that Musk controlled the company's board and the process for approving was 'deeply flawed." But Tesla said Musk deserves the pay because he turned the company into the top-selling electric vehicle maker in the world.
How Elon Musk's $44.9B Tesla pay package compares with the most generous plans for other U.S. CEOs
Tesla shareholders on Thursday voted overwhelmingly in favor of restoring Musk's 10-year pay plan, valued by the company in April at $44.9 billion. It was worth more early in the year, but Tesla's stock value has fallen about 25% since then.
Tesla CEO Elon Musk's pay package gets support from 77% of votes at investor meet
Tesla investors voted overwhelmingly in favor of Elon Musk's $56 billion pay package at the annual meeting, with 77% approval despite opposition from institutional investors and proxy advisory firms. Retail investors showed strong support. The largest pay package in U.S. corporate history faced legal challenges, with a Delaware judge voiding it earlier in the year.
Tesla shareholders okay CEO Elon Musk's Rs 4.67 lakh crore pay package
esla shareholders voted Thursday to restore CEO Elon Musk's record $44.9 billion pay package that was thrown out by a Delaware judge earlier this year, showing strong support for his leadership of the electric vehicle maker. While the favorable vote indicates confidence in Musk, it does not guarantee immediate access to the all-stock compensation. The package is expected to face legal challenges in the Delaware Chancery Court and Supreme Court for several months as Tesla seeks to overturn the initial rejection.
Tesla shareholders approve CEO Elon Musk's $44.9 billion pay package | AP Explains
Tesla shareholders voted Thursday to restore CEO Elon Musk’s $44.9 billion pay package that was thrown out by a Delaware judge earlier this year. Associated Press Auto Writer Tom Krisher said the favorable vote doesn’t mean CEO Musk will get the all-stock compensation...
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Elon Musk's friends and fans applaud shareholder vote on his payday
For months, Musk's supporters have used the social media site, which he purchased for $44 billion in 2022, to drum up support for his massive payday, and Tesla board members warned he could leave the company if shareholders voted against him.
Shareholders have okayed move: Musk
Tesla shareholders voted in favor of a $56 billion pay package for Elon Musk and to relocate the company's legal home to Texas, as announced by the CEO on social media.
Shareholders to vote on Elon Musk's proposed pay package, how does it compare with other US CEOs?
Tesla shareholders will vote on ratifying CEO Elon Musk's $56 billion pay package, previously voided by a judge due to improper control. The re-vote highlights CEO compensation in corporate America, with Musk's package tied to Tesla's market value reaching $650 billion over a decade. The shareholders are likely to accept the package as Musk has the needed support.
Elon Musk says Tesla shareholders voting yes for his $56 billion pay package
Tesla shareholders are voting on a $56 billion pay package for Elon Musk and to relocate the company's legal home to Texas. The vote outcome will be announced at a meeting in Texas on Thursday.
Tesla shareholders voting yes for Elon Musk's $56 billion pay package, CEO says on X
Shareholders of the electric-car maker are voting on a proposal to ratify CEO Musk's 2018 incentive package, valued at up to $56 billion at the time and the largest in U.S. corporate history, after a Delaware judge voided the plan approved by its board "beholden" to Musk. The result will be announced at a meeting on Thursday.
All about Elon Musk's proposed $56 billion pay package
On Thursday, the decision to approve a $56 billion pay package for Elon Musk who is the CEO of Tesla will be taken by the shareholders of the company. This decision may result in further corporate litigation.
What will happen to Tesla CEO Elon Musk's $56 bn pay package?
Tesla shareholders are set to vote on reinstating CEO Elon Musk's $56 billion pay package, which was invalidated by a Delaware judge for being unfair to shareholders. A "yes" vote won't automatically reinstate the package but could strengthen Tesla's legal case to overturn the ruling. If the package is rejected, Tesla may still appeal the decision and negotiate a similar pay plan with Musk. Regardless of the vote outcome, Tesla faces potential legal challenges and significant costs if a new package is required.
Norway wealth fund to vote against Elon Musk's $56 billion Tesla pay package
Norway's wealth fund to vote on Musk's pay and directors' re-election at Tesla's annual meeting. The fund opposes Musk's $56 billion pay package, voided for being unfair to shareholders.
IT CEOs' salary in FY24; Wipro offers 85% variable pay
Happy Wednesday! Top bosses at some of the country’s leading IT firms took home enhanced salary packages last fiscal. More on this on today’s ETtech Morning Dispatch.
LTIMindtree CEO pay up 10%, LTTS chief’s package jumps over 100%
Debashis Chatterjee fixed pay was Rs 9.33 crore, variable compensation at Rs 9.9 crore for the fiscal 2024. The median remuneration of employees of LTIMindtree during the financial year grew by 12% to Rs 14,00,009. In FY23, the median remuneration of the employees was Rs 12,49,992.
Tesla stands by Musk pay after ISS urges shareholders to reject package
Tesla defended Musk's pay package, disputed ISS criticism, and mentioned potentially costlier new compensation for shareholders.
More women made the list of top-paid CEOs in 2023, but their numbers are still small compared to men
Of the 341 CEOs in the AP's 2024 compensation survey, 25 are women, the highest number since the survey began in 2011. Lisa Su of AMD is the highest-paid female CEO, earning $30.3 million. The median pay for female CEOs increased by 21% to $17.6 million, outpacing male CEOs whose median pay rose by 12% to $16.3 million. Despite these gains, the highest-paid male CEOs still earn significantly more, and women often face the "glass cliff," being appointed to leadership roles during company crises.
CEOs got hefty pay raises in 2023, widening the gap with the workers they oversee
Top paid female CEOs in 2023 include Lisa Su, Mary Barra, Jane Fraser, Kathy Warden, and Carol Tome. Lisa Su of Advanced Micro Devices led with USD30.3 million. Female CEO median pay rose 21% to USD17.6 million, outperforming male counterparts.
Elon Musk sees another big advisory firm come out against his multibillion dollar pay package
Tesla CEO Elon Musk's pay package, recently valued at $44.9 billion, has been re-endorsed by ISS and Glass Lewis. The firm argued that the package was outsized and failed to achieve board objectives. It also noted that Tesla met the pay package's performance objectives and recognized the company's substantial growth in size and profitability. However, concerns about Musk spending too much time on other ventures raised in 2018 and since then have not been sufficiently addressed.
Tesla shareholders advised to reject Musk's $56 bln pay
Proxy advisory firm Glass Lewis said on Saturday it has urged Tesla shareholders to reject a $56 billion pay package for Chief Executive Officer Elon Musk, which if passed would be the largest pay package for a CEO in corporate America.
Tesla shareholders advised to reject Musk's $56 billion pay
Glass Lewis, a proxy advisory firm, has advised Tesla shareholders to reject a $56 billion pay package for CEO Elon Musk, citing reasons like its "excessive size," potential dilution of shares, and Musk's involvement in time-consuming projects, including the purchase of Twitter. The package, proposed by Tesla's board, is based on the company's market value reaching $650 billion over 10 years. Glass Lewis also criticized Tesla's proposed move to Texas, calling it risky for shareholders. Tesla has defended the package, citing Musk's role in the company's growth.
Wipro’s Rishad Premji takes pay cut, ex CEO Delaporte takes home $20 mn
Wipro executive chairman Rishad Premji declined variable pay for the second consecutive year due to negative profit growth. He took a 20% pay cut, earning $769,456 in FY24. Former CEO Thierry Delaporte became the highest-paid IT sector CEO with $20.11 million in compensation for FY24, including a $11 million separation payment upon resignation.
Group of Tesla shareholders ask investors to vote against Elon Musk's compensation package
A group of Tesla shareholders, including New York City Comptroller Brad Lander and SOC Investment Group, oppose a $40B pay package for CEO Elon Musk, citing falling global sales and stock prices. Concerns include lawsuits, Musk's part-time focus, and potential excessive future awards.
With $11 million exit pay, Delaporte joins other CEOs in costly exits
An analysis of employment contracts of top IT leaders shows that in recent years, payments to exiting CEOs at companies such as Tata Consultancy Services (TCS), Cognizant and Wipro have ranged from Rs 48 crore to Rs 92 crore.
Here's how much money Cognizant CEO Ravi Kumar S got in 2023
Cognizant CEO Ravi Kumar S's $22.5 million compensation for 2023 has sparked debate amid the company's 0.3% revenue decline to $19.4 billion. His package includes one-time awards like performance stock units and a cash sign-on bonus. The CEO pay ratio compared to employees in India is 1647:1. Previous CEO Brian Humphries received $4.2 million in 2023. CFO Jatin Dalal's target direct compensation was $5.2 million. The disparity in compensation, coupled with financial performance, has raised stakeholder concerns.
Shareholders approve pay package of Stellantis CEO Carlos Tavares
Stellantis shareholders on Tuesday approved a controversial 36.5-million-euro ($38.75 million) pay package for chief executive Carlos Tavares. According to the Stellantis annual report, the 65-year-old Portuguese executive was due to get a 10-million-euro bonus for the transformation of the group -- formed out of the 2021 merger of Peugeot and Fiat-Chrysler.
Carlyle CEO Harvey Schwartz paid $187-million package in his first year
As per the filing, $180 million of his package is restricted stock that he received when he joined the job. These stocks vest over several years. What Schwartz, 60, eventually pockets would be a function of how long he stays in the role and how well the shares perform, the report said.
Fat packages for tech interns; Google's search for data centre land
At IIT Mandi, 27 students have received stipends of Rs 1 lakh or more this year. In Bengaluru, RV College of Engineering has seen 39 students getting over Rs 1 lakh in monthly stipends compared to 8 last year. Around 30 students at Vellore Institute of Technology have also bagged Rs 1-lakh stipends, with companies like Couchbase and Amazon offering Rs 1.2 lakh and Rs 1.1 lakh, respectively.
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