This is a direct result of government allowing ownership gaming in publicly traded companies. Boards are creatures of management, not ownership.

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BIG MONEY: CEO Gets $379 Million For Money-Losing EV Company. “Keep in mind that Lucid lost over $2 billion over the last year. Now, startups can take a while before they turn profitable, but paying the CEO of an unprofitable company hundreds of millions of dollars to boost the stock price of a money-losing company sounds awful pump-and-dumpish to me.”

 

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h/t Racihed