US EditionEV maker Rivian gives CEO a Musk-style pay package worth up to $4.6 billion
Rivian's CEO pay package ties $4.6 billion potential payout to profit and share price targets, aiming to align incentives with shareholder returns and company growth.
- Rivian, an electric vehicle maker, has given its CEO a pay package potentially worth up to $4.6 billion over 10 years, similar to Elon Musk's deal at Tesla.
- The package includes stock options tied to meeting share price targets from $40 to $140, as well as operating income and cash flow goals through 2032.
- Scaringe's base salary was also doubled to $2 million, and he received a stake in a new Rivian AI spinoff company, with the changes aiming to better align pay with shareholder returns.
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Rivian just doubled its CEO's salary and gave him a $4.6B pay package
Rivian CEO RJ Scaringe described picking between Stanford and MIT as being "recruited for a nerd sports team."Amy E. Price/SXSW Conference & Festivals via Getty ImagesRivan gave its CEO a new pay package that contains a stock-option award worth up to about $4.6B.CEO RJ Scaringe also receives a salary increase from $1 million to $2 million.The company said that the previous pay package lacked enough incentive to retain its CEO.Rivian CEO RJ Scari…
Tesla rival Rivian gives CEO RJ Scaringe a Musk-like pay package worth up to $4.6B
EV maker Rivian on Friday said 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 reduced share price milestones.
EV maker Rivian gives CEO a Musk-style pay package worth up to $4.6 billion
EV maker Rivian on Friday said it was giving its CEO a revised pay package worth as much as $4.6 billion over the next decade, a deal modeled on larger rival Tesla’s plan for paying CEO Elon Musk, and linked to new profit targets and reduced share price milestones.Read MoreThe post EV maker Rivian gives CEO a Musk-style pay package worth up to $4.6 billion first appeared on The Who Dat Daily.
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