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Tesla appoints new Musk directors



These two appointments announced today are part of the firm’s agreement with the SEC, which also includes enhanced monitoring of the social networks of all members of the board of directors.

Tesla has appointed Larry Ellison, founder of the Oracle Software Group, take a position in its directory under the agreement of the manufacturer of electric vehicles with American regulators after a deadlock with Elon Musk in September.

The company is also named Kathleen Wilson-Thompson, global human resources manager Alliance Walgreens Boots and Kellogg CEOto fill another job.

Both appointments came into force on December 27, but were announced today – just after the deadline – in a document that was submitted to the Securities and Markets Commission (SEC). And they came with the goal of the agreement that Tesla reached with Mask three months ago to appoint new chairman and independent directors, after a series of tweets from the founder led to SEC lawsuit.

After announcement the company's stock saw a surge in the stock market, and now they are up 2.28%.

"The Board of Directors conducted an exhaustive process to find its new independent directors, examining candidates from around the world with a wide range of skills and who firmly believe that Tesla is designed to accelerate the global transition to sustainable energy," the automotive industry guide says.

“As the CEO, technology director and founder of Oracle, Larry, as an entrepreneur and philanthropist, needs no introduction, Larry also believes in the Tesla mission, having bought 3 million shares earlier this year.” specified directory.

Control tweets

Today begins a new phase also for Twitter account Musk. As part of an agreement with the SEC, Tesla must implement a series of measures to control the presence of its volatile founder on social networks.

These measures include the creation of a committee and the inclusion of an expert lawyer in the field of securities legislation to monitor communications and publications of senior managers on platforms that are important to the company.

The look will be more attentive to what Musk writes after the SEC said that he committed a fraud by tweeting that he had “insured financing” to exclude the company from the exchange.


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