Saturday December 7, 2019
Home Lead Story Larry Ellison...

Larry Ellison And Kathleen Wilson-Thompson Gets Named To Tesla Board

In October, Ellison said he is "very close friends to Elon Musk" and defended him against the ongoing criticism of his behaviour.

0
//
Tesla, board
Tesla to lay-off 7% full-time staff amid China dreams. Pixabay

To show the US Securities and Exchange Commission (SEC) that it is reigning in Elon Musk from sending out irresponsible tweets, the electric car company Tesla has named Oracle heavyweight Larry Ellison and top-ranked HR executive Kathleen Wilson-Thompson to its board.

A long-time Musk friend, Ellison is Co-founder and Executive Chairman of Oracle and Wilson-Thompson is the global Chief Human Resources Officer of Walgreens Boots Alliance, the Seattle Times reported on Friday as Tesla shares rose 5.6 per cent.

The US SEC in September announced a deal with Tesla after it sued Musk in federal court for misleading investors over his post on Twitter in August that he had “funding secured” for a buyout of the electric-car company at $420 a share.

Larry Ellison, board
Larry Ellison. IANS

His tweet about taking his company private, along with attacks on critics on social media, raised concerns with investors about whether Musk has become too focused on criticism from so-called short-sellers who had been making bets against him and Tesla.

Musk stepped down as Chairman in November and both he and Tesla agreed to pay $20 million penalties to the SEC.

Tesla later appointed Robyn Denholm, an executive at Australian telecommunications firm Telstra, to take become the Chair of the Tesla Board.

Musk remains as Tesla’s chief executive and the biggest investor.

“In Ellison, Tesla has added another larger-than-life technology titan lauded for his business accomplishments but not without his own corporate-governance controversies,” said the report.

Tesla CEO Elon musk, board
Musk remains as Tesla’s chief executive and the biggest investor. (VOA)

Tesla also said it is setting up a committee on the board to oversee compliance with the SEC agreement regarding public disclosures and public statements, and to review potential conflicts of interest, employment and compensation disputes.

Also Read: Elon Musk-Owned SpaceX Successfully Deploys US GPS Satellite Into Orbit

“Ellison went off-script during an Oracle meeting with analysts in October to announce that he had been building a personal stake in Tesla and that it was his second-largest holding,” the report added.

Ellison owns 3 million shares of Tesla stock.

In October, Ellison said he is “very close friends to Elon Musk” and defended him against the ongoing criticism of his behaviour. (IANS)

Next Story

Elon Musk Tells Jury his Net Worth $20bn But is Short on Cash

Last year, he called Unsworth a "child rapist" in an email. Unsworth sued him two months later in a Los Angeles federal court, saying Musk falsely branded him a paedophile and child rapist

0
Tesla CEO Elon Musk unveils the model
Tesla CEO Elon Musk speaks before unveiling the Model in Hawthorne, California. VOA

Multi-billionaire tech mogul Elon Musk in the second day of his courtroom appearance as a defendant in a defamation case filed by Vernon Unsworth, a British man, over “pedo guy” tweet, disclosed that his net worth was $20 billion (roughly Rs 1,43,000 crore) but was short on cash.

“People think I have a lot of cash, I actually don’t. I have stock in SpaceX and Tesla, and debt against that,” he said during the trial, Forbes.com reported on Wednesday.

During the first courtroom appearance on Tuesday, Musk had said the “pedo guy” tweet was not meant to be taken literally. He filed a declaration that “pedo guy” was a common insult in South Africa about demeanour and appearances.

Technology Entrepreneur speaking
Elon Musk, a technology entrepreneur. Pixabay

“It’s quite common in the English-speaking world. Calling someone a ‘pedo guy’ means creepy. If you did a search or asked someone what it means it would be a creepy,” he said.

Tesla CEO apologised to the cave diver in the court.

Also Read: 5G is our Top Priority Right Now: Qualcomm

Lawyers for Unsworth argued that Musk was using his social media platform to damage the explorer’s reputation and paint him as a paedophile.

Last year, he called Unsworth a “child rapist” in an email. Unsworth sued him two months later in a Los Angeles federal court, saying Musk falsely branded him a paedophile and child rapist. (IANS)