Musk Out at Tesla…Well Sort of

The Securities and Exchange Commission (SEC) has issued the following edict:

Elon Musk has been forced to step down from the Board of Tesla but he will remain CEO. Translation, he is figurehead of the company but can be out voted if he wants to do stupid stuff.

Within 45 days, an independent chairman will replace Musk, who will be ineligible for reelection for the next three years. Tesla will also be required to appoint two new independent directors to its board, in addition to putting into place controls to oversee Musk’s communication.

Tesla’s Elon Musk, SEC settle fraud charges

Is Musk really that out of control or does he want to be off the Board when the company financially implodes?

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William

Dedicated Christian that has experienced many facets of Christendom thru the years. Father of three and husband of but one wife. Education: Nuclear Reactor Operator while serving in US Navy, Masters in Business Administration, Bachelor's Degree in Government, Microsoft Certified System's Engineer, CompTIA Network Plus and A Plus certifications, and various accounting classes.

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