Factbox-Battles over CEO pay across the globe

(Reuters) – Tesla (NASDAQ:) shareholders will vote on CEO Elon Musk’s $56 billion pay package on June 13 that a Delaware judge voided in January, calling the sum “unfathomable” and because she found the billionaire improperly controlled the process.

Musk’s proposed pay package, the largest in corporate America, has no salary or cash bonus and sets rewards based on Tesla’s market value rising to as much as $650 billion over the next 10 years from 2018.

Here are a few other CEO pays that have faced a tough fight:

Year Company Description

2023 BP (NYSE:) Former CEO Bernard Looney had more

than $40 million cut in his

compensation after the British oil

giant concluded he misled the board

over personal relationships with

colleagues.

2021 McDonald’s (NYSE:) Former CEO Steve Easterbrook agreed to

return compensation worth $105 million

in equity awards and cash to settle a

lawsuit over alleged lies about

affairs.

2019 CBS CBS Corp (NYSE:) fired Leslie Moonves for

cause and denied a $120 million

severance package after the former

chief executive was accused of sexual

harassment and assault that allegedly

took place before and after he joined

the company.

2017 Uber (NYSE:) Travis Kalanick, Uber’s co-founder and

CEO, was forced to resign after a

series of scandals plagued the

company, including allegations of

sexual harassment and a toxic

workplace culture. Shareholders later

sued the board, alleging it failed to

properly oversee Kalanick and allowed

the scandals to happen.

2017 Equifax (NYSE:) After a massive data breach exposed

millions of customers’ personal

information, Equifax’s CEO received

significant criticism for his handling

of the crisis and a hefty bonus.

Shareholders filed suit alleging the

board failed to properly oversee the

CEO.

2016 Viacom A shareholder lawsuit claimed that

Viacom and CBS Corp’s Executive

Chairman Sumner Redstone was

improperly paid millions though “he

was physically and mentally

incapacitated”.

2011 Occidental CEO of Occidental Petroleum (NYSE:) Ray Irani,

Petroleum was criticized for excessive pay after

his compensation grew 40% in 2009 to

$31.4 million. Shareholders pushed for

board seats.

2002 Worldcom After an accounting scandal that led

to financial fraud, shareholders sued

the company over excessive

compensation awarded to executives,

including the CEO.