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

(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.

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