Two New Members Added to Tesla Board of Directors

From a recent tweet from Elon Musk, it is found that Tesla added two new members to its board of directors this week. One of them is Larry Ellison, co-founder of Oracle. Another one is Kathleen Wilson-Thompson. She is the executive of Walgreens Boots Alliance. The additions were caused by the agreement of Elon Musk, CEO of Tesla, with Securities and Exchange Commission(SEC).

SEC recently sued Elon Musk for “false and misleading” tweets regarding Musk’s intentions to take Tesla private in August. Musk and SEC ended up with an agreement regarding this “tweet-issue” in October. SEC also pledged Musk to strengthen the board of directors of Tesla. The addition of these two new members fulfills that pledge. According to this agreement, Musk will also pay a $20-million fine over the Tweet. In the agreement, Musk agreed to step down to the position of chairman of Tesla. But he still remains the chief executive of Tesla.

Larry Ellison is the co-founder and former CEO of Oracle. Oracle is currently the third largest software making company, making a place just after Microsoft and Google. Mr Ellison already owns three million shares of Tesla Stock and is a close friend of Elon Musk.

The Condition of Board of Directors of Tesla Right Now

After these two additions, at this very moment, Tesla board of director consists of 11 people. Elon Musk’s brother Kimbal Musk and venture capitalist Steve Jurvetson are some of the noteworthy one. Since 2017 Linda Johnson Rice is the director of the board of Tesla since 2017. She is also the chairman and CEO of Johnson Publishing Company. Robyn Denholm has been on the board of Tesla since August 2014. With the addition of Wilson-Thompson, now the Tesla board of directors consists of eight men and three women.

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