Tesla Names Oracle co-founder Larry Ellison to Board
Tesla has reportedly named Oracle co-founder Larry Ellison who is a shareholder and close friend of Chief Executive Elon Musk, to its board to provide the independent oversight demanded by U.S. regulators.
The move is meant to usher Tesla past months of turbulence following Musk's Aug. 7 tweet that he was considering taking the company private and had secured funding.
The fallout, which included the U.S. Securities and Exchange Commission subsequently filing fraud charges against Musk for what it said were his "false and misleading" tweets, led some investors to call for stronger board oversight of Musk.
The inclusion of Ellison puts one of the world's richest people with experience building a startup into a successful company on Tesla's board. ...