Never miss a story

Get subscribed to our newsletter


×
Visitors inspect Tesla electric cars at Brussels Motor Show, Belgium, Jan. 18, 2019. VOA

In a move that is likely to weaken the powers of Electric Vehicle (EV) maker Tesla Founder Elon Musk and cut some of his strongest allies from the board of directors, the company has said that four of its 11-member board would step down by 2020, thus shrinking the board’s size by more than a third.

The EV maker reportedly said two directors plan to leave its board in June and two more intend to step down next year as part of a move to improve corporate governance of the electric car company.


“Brad Buss, a member of the board since 2009, and Linda Johnson Rice, who joined two years ago, have asked not to be re-elected when shareholders convene on June 11 for Tesla’s annual general meeting, the company said in a preliminary proxy statement,” The New York Times reported late on Friday.

The departing members of the board include Antonio Gracias and Stephen Jurvetson — close friends of Musk who are also directors in SpaceX, Musk’s space launch company.


Tesla CEO Elon Musk. (VOA)

A member of the board since 2009, Buss was also the Chief Financial Officer of solar panel installer SolarCity for two years until Tesla acquired the firm in 2016.

“Shrinking the board will ‘allow it to operate more nimbly and efficiently’,” the company was quoted as saying in The NYT report.

Also Read- Swatch Defeats Apple in Legal War Over Catch-phrase

In November 2018, Musk was replaced by Robyn Denholm as the chairperson of the company’s board.

Musk had agreed to step down as the Chairman of Tesla for three years and pay a $20 million fine in a deal with the stock market regulatory authority, Securities and Exchange Commission (SEC), to resolve securities fraud charges. (IANS)


Popular

Photo by Marcus Wallis on Unsplash

A match underway

The sporting industry thrives on the success of the patron teams, or at least, teams that the people love. It is common knowledge how much time and energy people are willing to spend watching matches between their favourite team and its rival. Matches that take place across the world, in different time zones, do not matter much when it comes to expressing patronage for a star player or team. Late nights, crowded sitting rooms, and rain-checked appointments are absolutely welcome during match season.

Cricket has gained the world's love when it comes to making them stop everything and stare at a screen, awaiting the next run, boundary, or wicket. No other sport across the world receives as much love and undying allegiance. In this scenario, it is only natural to have an entire system in place that makes use of this immense love for the sport. Creating leagues that run annually, and pit one team against another, to measure prowess, skill, and popularity does not seem odd at all. In fact, it pumps the adrenaline more than ever, and receives an incredible amount of support. People will do anything to watch their team in action one more time.

Keep Reading Show less
Wikimedia Commons

The film closely follows the story of Satyavadi Raja Harishchandra

Cinema and movie making is constantly changing, and the result is in front of us we've come a long way from silent black and white short movies to high definition, colour, 5-D movies. It has evolved for the last 108 years and continues to grow. India's first auteur-filmmaker Dhundiraj Govind Phalke popularly known as Dadasahen Phalke directed and produced India's first feature film Raja Harishchandra which was a hundred per cent made by the Indian crew. The movie was released in Bombay's (Mumbai) Coronation Theatre on the 3rd of May 1913 under the label of being India's first home production, full-length film.

Raja Harishchandra was the first to be 'acted, directed and produced by an all-Indian team. Phalke's inspiration to make a "Swadeshi" movie comes from when he viewed the silent movie, "The Life of Christ" in 1911. He wrote in Navayug, November 1917 that While the Life of Christ was rolling fast before my physical eyes, I was mentally visualizing the gods, Shri Krishna, Shri Ramachandra, their Gokul and Ayodhya… He wanted to feel the connection with the movies but that connection failed to form as the context of the movie was foreign.

Keep Reading Show less