The Delaware court striking down Elon Musk's $50B pay package will garner a lot of headlines and clicks. This case highlights the increasing importance in Delaware of process. The entire fairness doctrine measures not just what is fair to the shareholders, but the process the board used in making the decision. Delaware law is pro-business and pro-management (despite this ruling). In her decision, Ms. McCormick suggested his status as a "superstar" chief executive has a downside.

Source: New York Times February 09, 2024 11:05 UTC