The Tesla board of directors will submit the enormous remuneration plan of its boss Elon Musk to shareholders. A judge in Delaware had canceled the plan at the end of January.
The American car manufacturer planned to give Musk Tesla shares based on the achievement of several objectives over ten years. The plan was estimated at $56 billion when it was adopted, but was canceled by a Delaware judge who ruled that shareholders had received "erroneous" and "misleading" information about the board of directors and the remunerated committee, ahead of the general meeting during which the plan was approved. The Tesla board regrets the judge's decision. The company "would not be where it is today without the contributions, leadership, and vision of Elon Musk," the board writes in preparatory documents published Wednesday. The board will submit the plan to its shareholders at its next general meeting in June, and it is expected to be approved by a large majority.