EV maker Rivian gives CEO a Musk-style pay package worth up to $4.6 billion

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Electric pickup and SUV maker Rivian said on Friday it was giving its CEO a pay plan worth as much as $4.6 billion over the next decade, a deal similar to Tesla‘s record package for CEO Elon Musk, and linked to new profit targets and lower share price milestones than a previous deal.

The move by the Rivian board shows that the Tesla plan for Musk could become a model for companies aiming to grow fast. Rivian’s pay package for its CEO RJ Scaringe could be one of the richest in history, depending on what performance goals are met.

Rivian said the plan…



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EV maker Rivian gives CEO a Musk-style pay package worth up to $4.6 billion



Electric pickup and SUV maker Rivian said on Friday it was giving its CEO a pay plan worth as much as $4.6 billion over the next decade, a deal similar to Tesla‘s record package for CEO Elon Musk, and linked to new profit targets and lower share price milestones than a previous deal.

The move by the Rivian board shows that the Tesla plan for Musk could become a model for companies aiming to grow fast. Rivian’s pay package for its CEO RJ Scaringe could be one of the richest in history, depending on what performance goals are met.

Rivian said the plan…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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