{"id":18643,"date":"2018-10-31T15:17:13","date_gmt":"2018-10-31T15:17:13","guid":{"rendered":"http:\/\/www.ceo-na.com\/?p=18643"},"modified":"2018-11-05T17:38:29","modified_gmt":"2018-11-05T17:38:29","slug":"the-uncertain-future-of-elon-musk","status":"publish","type":"post","link":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/business\/management-leadership\/the-uncertain-future-of-elon-musk\/","title":{"rendered":"An uncertain future for Elon Musk"},"content":{"rendered":"

Tesla executives can’t find someone ready to work under a self-proclaimed \u201cnano-manager\u201d.<\/em><\/strong><\/p>\n

The battle between Elon Musk, Tesla\u2019s CEO, and the Securities and Exchange Commission (SEC), the main regulator of America\u2019s stock\u00a0market, is over.<\/p>\n

The agency had filed a civil lawsuit against Musk on September 27th, alleging that he misled shareholders about his plan to take the firm private.<\/p>\n

The Tesla boss tweeted: \u201cAm considering taking Tesla private at $420. Funding secured.\u201d\u00a0The resulting surge in Tesla\u2019s share price, and Musk\u2019s oft-stated desire to \u201cburn\u201d the short sellers that have targeted his firm, stoked the SEC\u2019s anger.<\/p>\n

Its investigation revealed that Musk had indeed reached an oral agreement with a Middle Eastern investor, believed to be Saudi Arabia\u2019s sovereign-wealth fund, to take the firm private but had not agreed on a specific price or got bankers involved to draft the paperwork.<\/p>\n

Unimpressed, regulators asked the courts to ban the entrepreneur from serving as a director or senior officer of any public company.<\/p>\n

The prospect of the visionary boss of the world\u2019s leading electric-vehicle (EV) manufacturer being ousted from the firm he has lifted from obscurity to global prominence shocked investors, who began dumping their shares.<\/p>\n

In the event, however, it turned out that the SEC was using this extreme threat to get a reluctant Musk to accept sensible reforms of corporate governance at Tesla, which by all accounts he has run with an iron fist.<\/p>\n

Under a settlement that was announced on October 1, he cannot serve as chairman of the EV maker for three years.\u00a0Tesla must also appoint two independent board directors.<\/p>\n

The firm has also agreed to supervise Musk\u2019s corporate communications, including his tweets. Tesla shares jumped once more on the news that Musk will remain as Chief Executive.<\/p>\n

Although the US Department of Justice has started a criminal probe of the \u201cfunding secured\u201d tweet, this would require proving criminal intent, a high bar. Some disgruntled investors have launched lawsuits.<\/p>\n

The hope for shareholders is that a chairman overseeing Musk, along with a more independent board, will keep him focused on the job at hand.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tesla executives can’t find someone ready to work under a […]<\/p>\n","protected":false},"author":23,"featured_media":18644,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[1385,178,442,177],"class_list":["post-18643","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-management-leadership","tag-ceo-northam","tag-elon-musk","tag-musk","tag-tesla"],"_links":{"self":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/18643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/comments?post=18643"}],"version-history":[{"count":3,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/18643\/revisions"}],"predecessor-version":[{"id":19127,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/18643\/revisions\/19127"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/media\/18644"}],"wp:attachment":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/media?parent=18643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/categories?post=18643"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/tags?post=18643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}