{"id":156,"date":"2018-12-28T15:00:02","date_gmt":"2018-12-28T15:00:02","guid":{"rendered":"http:\/\/surfshields.com\/index.php\/2018\/12\/28\/tesla-names-oracles-larry-ellison-walgreens-executive-to-board-as-part-of-sec-settlement\/"},"modified":"2018-12-28T15:00:02","modified_gmt":"2018-12-28T15:00:02","slug":"tesla-names-oracles-larry-ellison-walgreens-executive-to-board-as-part-of-sec-settlement","status":"publish","type":"post","link":"https:\/\/surfshields.com\/index.php\/2018\/12\/28\/tesla-names-oracles-larry-ellison-walgreens-executive-to-board-as-part-of-sec-settlement\/","title":{"rendered":"Tesla names Oracles Larry Ellison, Walgreens executive to board as part of SEC settlement"},"content":{"rendered":"
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Tesla\u00a0has <\/span><\/a> added two independent directors to its board, Oracle founder and executive chairman Larry Ellison and Walgreens executive Kathleen Wilson-Thompson, as part of a settlement with U.S. securities regulators over CEO Elon Musk\u2019s infamous tweets about taking the company private<\/a>.<\/p>\n

The pair joined the board as of December 27, Tesla said in an announcement early Friday morning<\/a>.\u00a0Kathleen Wilson-Thompson is currently executive vice president and global chief human resources officer of Walgreens Boots Alliance. She also sits on\u00a0public boards at two U.S.-based manufacturing companies.<\/p>\n

Tesla board, led\u00a0by its Nominating and Corporate Governance Committee, said it\u00a0considered candidates with a \u201cwide range of skill sets\u201d from across the globe who also hold a strong personal belief in Tesla\u2019s mission of accelerating the world\u2019s transition to sustainable energy.<\/p>\n

Ellison purchased 3 million Tesla shares earlier this year. The Oracle <\/span><\/a> founder also spent $1.9 million on a microgrid energy system from Tesla in 2017 for a greenhouse farming project in Lanai, according to a regulatory filing.<\/p>\n

\u201cIn conducting a widespread search over the last few months, we sought to add independent directors with skills that would complement the current board\u2019s experience. In Larry and Kathleen, we have added a preeminent entrepreneur and a human resources leader, both of whom have a passion for sustainable energy,\u201d said Tesla\u2019s Board of Directors.<\/p>\n

The appointments closes a dramatic year for Tesla and Musk, who reached a settlement with the SEC in September that included he\u00a0step down as chairman of the board and pay a $20 million fine. Musk has remained CEO and still has a seat on the board.<\/p>\n

Tesla paid a separate $20 million penalty. The SEC said the charge and fine against Tesla is for\u00a0failing to require disclosure controls and procedures relating to Musk\u2019s tweets.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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