Elizabeth Warren Asks SEC To Investigate Tesla Board
For those who have followed Tesla for long, or have followed almost any notable stories regarding the Tesla board of directors, you are for sure familiar with claims that the Tesla board and Elon Musk are far too close and that there’s not enough independence on the board. It’s commonly claimed that the board just does whatever Elon Musk wants. Now, US Senator Elizabeth Warren is pushing for stronger action on this matter.
“Despite hiring Ms. Yaccarino [as CEO of Twitter], he is likely to retain ‘significant control’ over the company and intends to continue overseeing core functions of the business. Given the concerns about the actions by Mr. Musk and the Board, I ask that the SEC conduct a review to determine if they have complied with relevant securities laws.”
The possible misappropriation of Tesla resources by Mr. Musk’s funneling of ‘more than 50 of his trusted Tesla employees’ to work on his Twitter takeover, including Tesla’s Chief Information Officer and other senior staff. This use of Tesla employees raised obvious questions about whether Mr. Musk appropriated resources from a publicly traded firm, Tesla, to benefit his own private company, Twitter. This would potentially violate Mr.
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