(Reuters) – Tesla (NASDAQ:) shareholders will vote June 13 on CEO Elon Musk’s $56 billion pay package, which a Delaware judge threw out in January, calling the amount “incomprehensible” and because she found the billionaire mismanaged the process.
Musk’s proposed pay package, the largest in corporate America, does not include salary or cash bonuses and sets rewards based on Tesla’s market value rising to $650 billion over the next 10 years, starting in 2018.
Here are a few other payouts to CEOs who have faced tough competition:
Year Company Description
2023 BP (NYSE:) Former CEO Bernard Looney had more
its reduction by $40 million
compensation after British oil
the giant concluded that he had misled the board
over personal relationships with
Colleagues.
2021 McDonald’s (NYSE:) Former CEO Steve Easterbrook agreed
return compensation in the amount of $105 million.
in the form of stock awards and settlement cash
lawsuit over alleged lies about
affairs.
2019 CBS CBS Corp (NYSE:) fired Leslie Moonves for
reason and refused to pay $120 million
severance pay after ex
The head of administration was accused of sexual harassment
stalking and assault allegedly
happened before and after he joined
company.
2017 Uber (NYSE:) Travis Kalanick, co-founder of Uber and
the CEO was forced to resign after
a series of scandals followed
company, including allegations of
sexual harassment and toxic
workplace culture. Shareholders later
sued the board, arguing that it failed
properly keep an eye on Kalanick and allow
scandals happen.
Equifax (NYSE:) 2017 Following the revelation of a massive data breach
personal data of millions of customers
Equifax CEO received information
significant criticism for his handling
crisis and a solid bonus.
The shareholders filed a lawsuit alleging that
The board failed to properly supervise
CEO.
2016 Viacom shareholder lawsuit alleged that
Head of Viacom and CBS Corp.
Chairman Sumner Redstone was
paid millions incorrectly, although “he
was physically and mentally
incompetent.”
2011 Occidental CEO of Occidental Petroleum (NYSE:) Ray Irani,
Oil company criticized for excessive wages after…
his compensation increased by 40% in 2009 to
$31.4 million. Shareholders insisted on
places on board.
2002 Worldcom After an accounting scandal that led to
to financial fraud, shareholders sued
the company is overly
remuneration paid to managers,
including the CEO.