Elon Musk to Resign from Tesla Board to Settle SEC Suit

Elon Musk. Credit: Steve Jurvetson

(From UPI)

Elon Musk agreed Saturday to step down as chairman of Tesla’s board of directors to settle a lawsuit by the U.S. Securities and Exchange Commission accusing him of misleading investors.

. . . Musk will retain his role as CEO of the company, but Tesla must add two independent directors to its board.

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