one month after a solution with federal regulatory authorities that partially aims to better regulate their public statements."Radiate my Tesla…
one month after a solution with federal regulatory authorities that partially aims to better regulate their public statements.
“Radiate my Tesla titles last week to see what would happen,” said a post on Mr Musk’s official Twitter account Monday afternoon . “I am now nothing of Tesla. It seems good so far.” Less than 90 minutes later, at 3:06 PDT, he suggested in another tweet that he would take the title of president to meet corporate business law requirements, or “it will confuse the authorities. “
Tesla did not respond to requests for clarification. The company has not disclosed any change in Mr Musk’s position as CEO and Chairman, although he will resign from the Presidency in mid-November as part of an agreement that was met on September 29 with the Securities and Exchange Commission.
Mr. Music’s tweet on Monday referred to the last removal of his titles on the management page on Tesla’s website, where titles from two other senior leaders were also removed. The company has not explained the changes.
The SEC agreement was to settle charges from the Office to Mr. Musk mislead investors with tweets on August 7 who said he had secured funding to take Tesla privately. Shares increased on the unexpected announcement only to later shrink over the following days as it became clear that no such plan was completed.
The settlement required that Mr Musk and Tesla each pay 20 million dollars. It also required that he resigned as chairman for three years and that Tesla adds two new independent board members and establishes a system for monitoring Mr Musk’s communication.
Mr. Musk still has its outdated use of Twitter since the settlement. On October 4, he appeared to be in charge of the SEC with a tweet tagging the “Shortseller Enrichment Commission”, a reference to his feud with investors aiming for Tesla shares to decline. On Friday night, he suggested Twitter that his 7th tweet was “worth it”, despite the SEC fines.
The Tesla shares, which closed 1
.2% on Monday, fell by as much as 1% in post-trade
The latest Twitter episode follows Tesla last week and sent a record win for the third quarter that hit Wall Street expectations and hopes of that Tesla’s new Model 3 can help turn it into a competitor against much larger global automakers.
Tesla board early this year assigned Mr. Musk a compensation package preliminarily valued at as much as $ 2.62 billion paying out in limited liability company if he reaches several milestones over a ten-year period. The package requires that he is either Tesla’s CEO or Executive Chairman and Chief Product Officer at every milestone for stock awards to the West.
Write to Tim Higgins at [email protected]