The board would need to approve of that bonus, and in turn the board is accountable to shareholders. If a CEO starts using a public company as a personal piggy bank, shareholders have grounds to sue.
Comment on Tesla is reportedly under investigation by the DOJ and SEC over it's mysterious 'Project 42'
Dntshoot@lemmy.world 1 year agoSo if he were to give himself a bonus and use that money to build the house would it still be illegal? Genuinely asking
jonne@infosec.pub 1 year ago
dm_me_your_feet@lemmy.world 1 year ago
No CEO of a public company has the power to just “give himself a bonus” if the sum is to be any more than pocket money. The board has to approve it.