Tesla appoints 2 independent directors after SEC settlement
Electric carmaker Tesla, which agreed in September to appoint two independent directors and a new chairman, said Friday that Larry Ellison, executive chairman of Oracle, and Kathleen Wilson-Thompson, executive vice president of Walgreens Boots Alliance, have joined the board of directors.
The agreement to make leadership changes at the company followed a Securities and Exchange Commission investigation and subsequent lawsuit that accused Tesla founder Elon Musk of misleading investors with a tweet about taking the company private.
That lawsuit was settled earlier this year.
“In conducting a widespread search over the last few months, we sought to add independent directors with skills that would complement the current board’s experience. In Larry and Kathleen, we have added a preeminent entrepreneur and a human resources leader, both of whom have a passion for sustainable energy,” the Tesla board said in a statement.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 171.97 | -2.75 | -1.57% |
Ellison purchased 3 million shares of Tesla earlier this year.
Shares of the company were up sharply after the announcement.