Tesla will add Oracle founder Larry Ellison and Walgreens Boots Alliance executive Kathleen Wilson-Thompson as independent directors, positions the company and Chief Executive Officer Elon Musk agreed to create under a settlement with the Securities and Exchange Commission.
Earlier this year, the SEC said Musk misled investors when he tweeted that funding had been secured to take Tesla private at $420 per share, a substantial premium to the electric carmaker’s value at the time.
To settle the claims, the 47-year old inventor and the company agreed to appoint a new chairman and two new, independent directors. Ellison, who previously disclosed a large investment in Tesla and counts Musk as a personal friend, and Wilson-Thompson began serving on Thursday.
“In conducting a widespread search over the last few months, we sought to add independent directors with skills that would complement the current board’s experience,” Tesla’s board said in a statement. “In Larry and Kathleen, we have added a preeminent entrepreneur and a human resources leader, both of whom have a passion for sustainable energy,”
Tesla’s stock rose 1.7 percent to $321.37 in New York trading on Friday.
