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Science & Technology
Musk out as Tesla chair, remains CEO in $40M SEC settlement
2018-10-01
  • [ARABNEWS] The settlement allows Musk to remain CEO of the electric car company but requires him to relinquish his role as chairman for at least three years

  • The deal was announced Saturday, just two days after SEC filed its case seeking to oust Musk as CEO
Posted by:Fred

#3  Wow. And the original penalty was being bared from Tesla for his life! Amazing.
Posted by: Alistaire Untervehr8459   2018-10-01 09:08  

#2  The SEC wants to be able to say they did something to protect investors without taking the blame if it turns out Tesla is going out of business, I guess. As I said this weekend, when we find out who the new chairman is and the new board members we'll find out if there's gonna be meaningful change or if it's meet the new boss, same as the old boss stuff.
Posted by: Thing From Snowy Mountain   2018-10-01 08:37  

#1  That was rather expeditious...
Posted by: Raj   2018-10-01 00:16  

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