Elon Musk¹, CEO of U.S. electric automaker Tesla Inc., will step down as chairman of the Tesla Board of Directors.

 

特斯拉CEO埃隆·马斯克将不再担任特斯拉董事长。

 

The SEC said that Musk, who will remain Tesla's CEO, agreed to settle the securities fraud charge it filed against him last week and quit Tesla board in 45 days.

 

The U.S. securities regulator Saturday also brought a charge against Tesla for failing to have required disclosure controls and procedures relating to Musk's tweets in August, in which he tweeted that he was considering taking the U.S. electric car maker² private at 420 dollars per share.

 

In the SEC's complaint, the U.S. securities regulator said Musk knew that the potential transaction was uncertain and subject to numerous contingencies³, but he had not discussed specific deal terms, including price, with any potential financing partners.

 

"His statements about the possible transaction lacked an adequate basis in fact," which was misleading and leading to significant market disruption as Musk's tweets caused Tesla's stock price to jump by over 6 percent on Aug. 7, said the SEC.

 

It said Musk will be replaced by an independent chairman after his resignation, and he will not seek re-election in three years under the settlement agreement.

 

Tesla will appoint a total of two new independent directors to its board, establish a new committee of independent directors and put in place additional controls and procedures to oversee⁴ Musk's communications, the SEC said.

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