Musk is giving up the chairperson’s role under a settlement announced Saturday with the Securities and Exchange Commission. Besides a new chairperson, Tesla was also ordered to appoint two new, independent members to its board. A more assertive board could provide the kind of tighter oversight that many legal experts, and Tesla investors, say is overdue for a company of Tesla’s market value. Yet a more forceful board, coupled with a domineering CEO like Musk, could create conflicts at a risky time for the company. Musk did not found Tesla but provided early financing.

Source: thestar October 01, 2018 01:18 UTC