- Tesla’s board of directors may not have a chairman in three years, CEOElon Musk suggested on Tuesday via Twitter.
- “‘Chairman’ is an honorific, not executive role, which means it’s not needed to run Tesla. Will retire that title at Tesla in 3 years,” Musk said.
- Tesla did not immediately respond to a request for comment.
Tesla’s board of directors may not have a chairman in three years, CEO Elon Musk suggested on Tuesday via Twitter.
“‘Chairman’ is an honorific, not executive role, which means it’s not needed to run Tesla. Will retire that title at Tesla in 3 years,” Musk said.
Tesla did not immediately respond to a request for comment.
Musk was the chairman of Tesla’s board of directors from 2004 until this year, when a series of tweets in August about taking the automaker private led to a lawsuit and settlement with the Securities and Exchange Commission (SEC) that required Musk to step down as Tesla’s board chairman for three years and pay a $US20 million fine.
Musk said in August that he had “funding secured” to convert Tesla into a private company at $US420 per share and needed only a shareholder vote to confirm a go-private deal. But in its lawsuit, the SEC alleged that Musk had not acquired the necessary funding or even discussed the terms he mentioned with any backers.
Tesla named Robyn Denholm, the former chief financial officer at the Australian telecommunications company Telstra, as its new board chairwoman in November. Denholm joined Tesla’s board of directors in 2014.
During an interview with “60 Minutes” that aired in December, Musk said he did not believe he will want to return to being Tesla’s board chairman once he is allowed to do so.
“No … I actually just prefer to have no titles at all,” Musk said.
- Read more about Elon Musk and Tesla:
- Elon Musk on missing Model 3 production deadlines: ‘I’ve never made a mass-produced car. How am I supposed to know with precision when it’s going to get done?’
- Elon Musk broke one of Tesla’s biggest Autopilot rules in a TV interview
- Elon Musk: ‘I want to be clear – I do not respect the SEC’
- Elon Musk says he’s ‘somewhat impulsive’ and that he doesn’t want to adhere to a ‘CEO template’
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.