Musk Pay Judge Slams ‘Supine’ Tesla Board. Here’s Who Signed Off
- James Murdoch, Antonio Gracias criticized for personal ties
- Robyn Denholm made $280 million as Tesla director, judge notes
Elon Musk
Photographer: Alessia Pierdomenico/BloombergThe judge who rejected Elon Musk’s $55 billion Tesla Inc. compensation package likened the board that approved it to “supine servants of an overweening master” rather than independent directors looking out for shareholders.
In her 200-page decision, Delaware Chancery Court Judge Kathaleen St. J. McCormick focused on six board members she called “the decision makers,” five of whom she said were conflicted by their personal or business ties to Musk. Two were close friends who often vacationed and socialized with Musk, while three others were “beholden” to him in other ways, the judge said.