Battery startup QuantumScape's Indian CEO Jagdeep Singh gets Elon Musk-like 'staggering' pay package
The CEO of a US battery startup, QuantumScape, has won a multibillion-dollar pay package. One proxy adviser has even called the package that Jagdeep Singh got "staggering" in size. QuantumScape Corp. stockholders are set to vote on a multibillion-dollar pay plan for the company's chief executive. QuantumScape is a solid-state battery firm that went public in 2020 via a blank-check sale. "QuantumScape's Indian-origin CEO Jagdeep Singh could obtain stock options worth up to $2.3 billion under the arrangement if the company reaches specific objectives," proxy advisory firm Glass Lewis says. The package will be one of the main items discussed during QuantumScape's annual shareholder meeting on Wednesday. Glass Lewis, which encouraged stockholders to reject the deal, noted in a recent report that the grant's disclosed cash value cost is astonishing. Another consulting group, Institutional Shareholder Services, also does not support it. ...