Gunster attorney Bob Lamm, who leads the firm’s Securities & Corporate Governance practice, spoke with Yahoo! Finance regarding Tesla’s recent recommendation that shareholders vote to re-authorize Elon Musk’s pay. Musk’s executive compensation package was valued at a record-setting $55 million when a Delaware Court invalidated it, citing breach of fiduciary duty by the company’s directors.
In the article, Lamm points to the challenge of looking at comparable peer review data, given that Musk had the largest compensation package in U.S. history. “At some point the court’s got to say: Tesla, you’ve done your job,” Lamm observes.
Bob Lamm chairs the Gunster’s Securities Law & Corporate Governance practice. Bob previously served as assistant general counsel and assistant secretary of Pfizer. His prior experience includes senior legal positions at W. R. Grace, CA Technologies, and Financial Guaranty Insurance Company. He also has extensive experience with small and mid-cap companies, as well as nonprofit entities. In addition to his role at Gunster, Bob is an independent senior advisor to the Deloitte Center for Board Effectiveness.
