Tesla's CEO Ilon Mask will step down as the head of the board of the manufacturer of electricvehicles and pay a $ 20 million fine at the request of the US Securities and Exchange Commission(SEC). Mask will remain the general director and will be on the council, but not as chairman.
This agreement will not cause a bloody and harmful massacre between the Mask, the companyand the shareholders of Tesla.
Mask resigns
Mask will step down as Chairman of the Board of Tesla within 45 days after signing theagreement, which was presented on Saturday. He agreed not to seek re-election and not acceptappointment as chairman for three years. An independent chairman will be appointed in hisplace.
Also Tesla will pay a fine of 20 million dollars. The fine and the prosecution against Tesla areadvanced due to the inability to request the disclosure of information and procedures related tothe tweets Mask. However, the Mask will not have to recognize or deny the SEC's allegationsunder the agreement.
Tesla also agreed to appoint two independent directors to the board and create a new committeeof independent directors, and introduce additional control measures and procedures to monitorthe communications of the Mask. Probably, Mask will have to behave more restrained on Twitter - and he's used to announcing new products, functions and updates there. At least with Tesla thiswill not happen again.
All this will help prevent further market disruption and harm to Tesla shareholders. Now Tesla iswaiting for corporate control, and shareholders who demanded to humble the Mask and dislodgethe errant manager from the post of the head of the board of directors will be satisfied.
It's "elon musk" not "ilon mask", please correct that ridiculous typo.
I’ve been short/buy puts on Tesla for sometime. This company is way overvalued and what Elon did was criminal. He is a visionary, but should not be influencing a public stock.
Posted using Partiko iOS
I am new on Steemit. Please Upvote my posts. Thanks
Posted using Partiko Android
It looks like you are interested in Technlogy and Musk-oriented stuff. Do you know a guy @answerswithjoe on Steemit? He creates really good materials about those topics :)
Congratulations @verticalcab! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You published your First Post
You got a First Vote
Award for the number of upvotes received
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOP
Do not miss the last post from @steemitboard:
https://steemit.com/money/@reenarao/today-free-joining-tomorrow-paid
Nice my dear, thanks like my post
Posted using Partiko Android
Congratulations @verticalcab! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word
STOP
Do not miss the last post from @steemitboard:
Congratulations @verticalcab! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word
STOP
Do not miss the last post from @steemitboard:
Congratulations @verticalcab! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word
STOP
Do not miss the last post from @steemitboard:
Congratulations @verticalcab! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word
STOP
Do not miss the last post from @steemitboard:
Congratulations @verticalcab! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word
STOP
Do not miss the last post from @steemitboard:
Congratulations @verticalcab! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word
STOP
Congratulations @verticalcab! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word
STOP
Do not miss the last post from @steemitboard:
Congratulations @verticalcab! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word
STOP
Congratulations @verticalcab! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word
STOP
Congratulations @verticalcab! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click here to view your Board
If you no longer want to receive notifications, reply to this comment with the word
STOP
Do not miss the last post from @steemitboard:
So much has happened in so many disastrous ways. Elon, when are you going to learn there are rules to follow?
Posted using Partiko Android
Congratulations @verticalcab! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!