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Musk will come from the Board of Directors of Tesla

Маск выйдет из совета директоров TeslaElon Musk will still remain the head of Tesla.

Company founder Tesla and the Commission on securities and exchange Commission (SEC) entered into a pretrial agreement. Previously, the Supervisory authority has accused businessman and inventor fraud because his statements about the intention to make the company public.

This is stated on the official website of the Department.

Now Elon Musk will still remain the head of Tesla really needs to give up the post of Chairman of the Board of Directors for at least three years. It will replace an independent Director. In addition, Tesla needs to appoint two new independent Directors.

Another paragraph of the agreement envisages the introduction of additional control measures and monitoring of the message Mask.

Also the businessman and his company will be forced to pay a fine in the amount of $ 20 million each.

The SEC expects that these measures will help to prevent further disruptions of the functioning of the market and negative consequences for the shareholders of Tesla.

These agreements still have to be approved by the court.

We will add, earlier the supervisor decided that his tweets about the intention to make a non-public company Tesla Musk deliberately introduced investors astray, because he did nothing to implement this intention.

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