Wednesday, August 17, 2016

SolarCity CEO takes pay cut, to get $1 as annual salary

Aug 17 (Reuters) - Solar panel installer SolarCity Corp

, which recently accepted Tesla Motors Inc's

$2.6 billion buyout offer, said CEO Lyndon Rive would now take

$1 as annual salary, a steep drop from $275,000, as part of the

company's cost-cutting plans.

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