Heavy Pay Package: The process of getting good posts and good salary packages to Indian-origin or Indian officers in international companies is not new and yesterday a similar news has come which you will be surprised to hear. QuantumScape is a startup and it has given such a huge package to its Indian CEO that it is considered like a pay package for Tesla CEO and the world’s richest person.
Huge salary package of $2.3 billion
QuantumScape is an American company engaged in research on solid state lithium metal batteries for electric vehicles and provides batteries to automakers. Under the company’s contract, it has been told that if he achieves the target given to Jagdeep Singh, then he will get shares worth 2.3 billion i.e. $ 23 billion. If you look at converting this amount into Indian Rupees, then they become shares worth more than Rs 17 thousand crores. Let us tell you that this estimate has been made by proxy advisory firm Glass Lewis.
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Quantumscape shareholders approve
This massive package was approved by the company’s shareholders in Quantumscape’s Annual Shareholders’ Meeting. However, regarding the final tally, the company said that it will be provided later. Here you know who is Jagdeep Singh, who is going to get such a huge amount as income, that too in the event that Glass Lewis and another consulting firm also gave an opinion against such a package. It is worth noting that on Tuesday, the shares of the company had also registered a fall of 72 percent.
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Know about Jagdeep Singh
Quantumscape, backed by Volkswagen AG and Bill Gates’ venture fund, went public last year. The CEO (Chief Executive Officer) of this company is also the chairman of its board of directors. Jagdeep Singh joined the board of QuantumScape in 2010. Singh took over as co-founder of Quantumscape and has been its CEO since May 2010.
Prior to joining Quantumscape, Jagdeep Singh worked as the Founder and Chief Executive Officer of Infinira Corporation, a telecommunications company. Between 2001 and 2009, Jagdeep Singh earned a degree in computer science from Maryland College Park University. Educated from University of California, Barclay. At the same time, he has also earned a degree in Computer Science from Stanford University.
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