• Shareholders must vote on Musk's return as Tesla chairman

    1 month ago - By Chron

    If Tesla CEO Elon Musk wants to return as chairman, shareholders will have to vote on it.
    The requirement is detailed in a court brief filed jointly on Thursday by Tesla and the Securities and Exchange Commission. The brief was required by a federal judge who must approve a securities fraud settlement reached with Musk and the company last month.
    Musk and Tesla agreed to pay $20 million each and make concessions to settle an SEC lawsuit alleging Musk duped investors with statements about a plan to take the company private.
    The settlement allows Musk to remain CEO but requires him to...
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  • Elon Musk: James Murdoch Is Not Top Candidate for Tesla Chairman

    1 month ago - By Fortune

    Elon Musk tweeted a reply to a Financial Times report stating James Murdoch is the lead choice for Tesla's new chairman, saying, “This is incorrect.”
    The report , which cites “two people briefed on the discussions,” says Murdoch is the top candidate, although outside options are still being considered. Murdoch currently serves as a non-executive director of Tesla.
    This is incorrect
    - Elon Musk October 10, 2018
    The electric car company has until Nov. 13 to choose a new independent chairman of its board. Musk, while he remains in his role as CEO, agreed to step down as chairman following a...
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  • Elon Musk and the SEC Reach a Deal-Days After Snarky Tweets

    1 month ago - By Fortune

    Elon Musk, Tesla's Chief Executive Officer and the U.S. Securities and Exchange Commission filed a joint settlement late Wednesday.
    The SEC sued Musk last month , accusing Musk of misleading investors, but Tesla is not being charged with fraud.
    In the proposed deal, Musk agreed to step aside as Tesla's chairman for three years and also pay a $20 million fine. Tesla will also accept a $20 million fine. According to the filing, Musk must also “comply with mandatory procedures to be adopted by Tesla concerning the oversight and approval of his Tesla-related public statements,” Bloomberg...
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