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A recent executive order seeks to increase oversight of proxy advisors that have a hand in shaping corporate governance issues related to DEI, ESG, and compensation.
The Tesla CEO recently suggested the proposal is more about maintaining influence than earning additional compensation.
The committee overseeing Musk’s compensation said benchmarking his pay to other CEOs would be “irrelevant” in light of the goals he’s been asked to achieve.
The changes come shortly after the firm began laying off some 3,600 workers, citing performance-related reasons.
A Delaware judge reaffirmed her ruling that declared Tesla and Musk used a flawed process to create his CEO pay package.
The tech firm’s decision to base bonus decisions partly on cybersecurity is part of a growing trend in the world of executive pay.
CHROs can be crucial to executive pay negotiations, often working closely with the head of the compensation committee and an outside compensation consultant.
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