(Reuters) – The California Public Employees Retirement System (CalPERS) CEO Marcie Frost is planning to oppose Tesla CEO Elon Musk’s $56 billion pay package, CNBC reported on Wednesday.
“We do not believe that the compensation is commensurate with the performance of the company,” Frost said in an interview to CNBC.
CalPERS is among the top 30 investors of Tesla and owns 9.5 million shares, according to LSEG data.
(Reporting by Harshita Mary Varghese)
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