elon musk

Tesla CEO Elon Musk defended the company’s board of directors on Friday via Twitter.
“The Tesla board has done incredible work overseeing the largest value creation in the auto industry in 100+ years, despite many setbacks. Tesla owes its very existence to this board!” Musk said via Twitter in response to a Forbes article that questioned the board’s performance.
Questions have been raised about the board’s independence and effectiveness, as many board members have longtime relationships with Musk and have invested in his other companies.

Tesla CEO Elon Musk defended the company’s board of directors on Friday via Twitter.

“The Tesla board has done incredible work overseeing the largest value creation in the auto industry in 100+ years, despite many setbacks. Tesla owes its very existence to this board!” Musk said in response to a Forbes article that questioned the board’s performance.

Questions have been raised about the board’s independence and effectiveness, as many board members have longtime relationships with Musk and have invested in his other companies. Musk’s brother, Kimbal, is also on the board.

While the board’s public statements have indicated its support of Musk, two New York Times reports have suggested that some of Musk’s behavior has concerned the board.

According to the Times, some board members were surprised by Musk’s decision to tweet in early August that he was considering taking Tesla private and had secured the funding for such a move, despite questions that later emerged about the amount of funding Musk had locked down at the time of the tweet. The tweet and other statements about potentially converting Tesla into a private company have resulted in lawsuits from shareholders and reportedly led to an investigation from the Securities and Exchange Commission.

The Times has also reported that some …read more

Source:: Business Insider

      

(Visited 1 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *