Elon Musk commits to SEC settlement despite mocking tweets

Elon Musk commits to SEC settlement despite mocking tweets”

This is what some institutional investors have always been calling for, contending that the board has failed to sufficiently govern the chief executive officer and that Musk may be stretched too thin, running Tesla as well as the rocket manufacturer SpaceX, where he's also both CEO and chairman.

James Murdoch, who serves as a director on Tesla's board, is set to end his innings as 21st Century Fox's CEO.

The report also says external options are also being considered.

Musk last month agreed to relinquish his role as chairman of electric-vehicle manufacturer Tesla for three years as part of an agreement with the SEC to resolve a securities-fraud case. He's still CEO, however. Months after the beverage was initially mentioned in Elon Musk's dark-humored April Fool's Twitter post, though, Tesla has now filed an application with the US Patent Trademark Office to trademark the alcoholic beverage.

"An officer's celebrity status or reputation as a technological innovator does not give license to take those responsibilities lightly".

"The Tesla chairman job is ideal for James", one source told the FT.

Murdoch is now a non-executive director on Tesla's board. In addition, he stepped down as chairman of United Kingdom -based satellite TV operator Sky following its sale to Comcast.

Murdoch will not join his father, Rupert Murdoch, and his brother Lachlan at "New Fox" - the entity remaining after 21CF's sale of assets to Disney is completed.

Tesla faces a crucial moment as it struggles to produce its Model 3 sedan in large volume and deliver it quickly to customers amid an ongoing cash crunch that has concerned some analysts.

Terms of the settlement also require "implementation of mandatory procedures to oversee and preapprove Mr. Musk's Tesla-related written communications that reasonably could contain information material to the company or its shareholders", and goes on to demand an "experienced securities lawyer" who will enforce and approve Musk's communications - including tweets.

Shares of Tesla closed Thursday down 1.8 percent at $252.23 as the Dow Jones Industrial average dropped over 500 points.

Like this



13 Октября 2018
How To Hide The Google Pixel 3XL Notch
Google previously destroyed any real hope for Nest by taking it over and seeking to align it with its true vision of Android. Another thing we're expecting on the original Pixel, Pixel XL, Pixel 2 and Pixel 2 XL is Gmail's new Smart Compose tools.

13 Октября 2018
'Babysitting while black:’ Woman calls police on male babysitter with white children
A white woman who spotted a black man babysitting two white children called police and then followed them home in Georgia. A representative from the Cobb County Police Department did not return Yahoo Lifestyle's request for comment.

13 Октября 2018
Earthquakes in Indonesia and Papua New Guinea: at least 3 dead
The earthquake's tremors were felt as far as the holiday island of Bali, where locals and tourists were woken up by the sensation. Following the tremor, the Pacific Tsunami Warning Center said it had the potential to generate a tsunami.

13 Октября 2018
Michael, Now Post-Tropical Storm, Batters Tri-State With Rain, Wind
That would allow VDOT and utility crews faster access to and work at clearing the roads of downed trees and power lines. Michael, one of the most powerful hurricanes to hit the United States, left the East Coast early Friday morning.

13 Октября 2018
Lindsey Buckingham sues Fleetwood Mac over sacking
That's me being very specific about the right and wrong way to do something", and that his smirk was part of a running joke he has with Nicks.

13 Октября 2018
Over 70% of LGBTQ+ People Experience Mental Health Issues Due to Work
Heather says, "Approximately one-half of chronic mental illness begins by the age of 14". If you are at school or college, mental health care may be arranged for you.

13 Октября 2018
Australian woman taken by 'problem crocodile' in Northern Territory
The ranger's body and the crocodile were found just before 5pm less than one kilometre from the scene of the attack. Gan Gan is a five-hour drive down a dirt track, which is the only major road in East Arnhem, from Yirrkala.

13 Октября 2018
EPL: Klopp names club to challenge Liverpool, Man City for title
Liverpool will be looking to getting back to winning ways, having gone without a victory in their last three games in all competitions.

12 Октября 2018
Watch as Florida man gets rare look inside Hurricane Michael's eye
Residents emerged in the early evening to assess damage when rains stopped, though skies were still overcast and windy. Early Thursday, he said that Michael was "definitely one of the most violent [hurricanes] I've been in".

12 Октября 2018
The Xbox One October 2018 update is now available
Look for the Xbox Skill in the Alexa Skill Store or the Cortana Skill Store to get started, and it's easy to set up from there. All of this is available right now as part of the October update, which should pop up on your Xbox One by the end of the day.