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Tesla just locked in Elon Musk as CEO with a $70 billion pay package (TSLA)

tesla stock price

  • Elon Musk is the eccentric founder of Tesla, and will likely remain CEO for the next 10 years, as is required to claim the full $70 billion in pay from a new compensation package.
  • The pay package eliminates production targets for the CEO.
  • Tesla’s stock is jumping on the news.

Shares of Tesla are up 2.82% to $361.47 on Tuesday after the company announced a new executive compensation plan for its CEO, Elon Musk.

The new plan eliminates vehicle production targets and focuses Musk’s compensation on stock, earnings, and revenue targets instead. The plan also requires Musk to be either CEO, read more >>>

Source:: BusinessInsider.Com