Tesla chief government Elon Musk’s record-breaking $56bn (£47bn) pay award won’t be reinstated, a choose in Delaware has dominated, regardless of it being authorized by shareholders and administrators in the summertime.
Choose Kathaleen McCormick upheld her earlier choice from January, by which she argued that board members had been too closely influenced by Musk.
The pay package deal would have been the biggest ever for the boss of a listed firm, mentioned Choose McCormick.
Responding to the ruling, Musk posted on X: “Shareholders ought to management firm votes, not judges.”
Tesla has vowed to enchantment towards the ruling, saying the choice was “mistaken”.
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