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Old 09-29-2018, 09:23 PM   #777
Sugar Will '04
ggies's Avatar

Join Date: Jun 2005
Location: Dallas, TX
Posts: 8,741
I just don’t understand the hesitation to let this inevitable transition take place. Baffling. A bunch of q-tips who supposedly have accumulated 70-80 years of wisdom are coming off as fucking stupid. And greedy.

Originally Posted by Jayes View Post
Also, I’m on Musk’s side, but it looks like he’s out
Nope! He is still CEO and controls the company, just out as Chairman for 3 years.

[Only registered users can see links.]

• Musk will step down as Tesla’s Chairman and be replaced by an independent Chairman. Musk will be ineligible to be re-elected Chairman for three years;
• Tesla will appoint a total of two new independent directors to its board;
• Tesla will establish a new committee of independent directors and put in place additional controls and procedures to oversee Musk’s communications;
• Musk and Tesla will each pay a separate $20 million penalty. The $40 million in penalties will be distributed to harmed investors under a court-approved process.
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