Tesla’s (NASDAQ:TSLA) Elon Musk Now Holds No ‘Titles’ at the Company

Tesla’s (NASDAQ:TSLA) Elon Musk Now Holds No ‘Titles’ at the Company

Tesla’s (NASDAQ:TSLA) Elon Musk Now Holds No ‘Titles’ at the Company


Tesla Inc Chief Executive Officer Elon Musk took to Twitter again Monday chiding the US regulators, saying he deleted his Tesla titles last week to see what would happen, without giving further details.

“Deleted my Tesla titles last week to see what would happen. I’m now the Nothing of Tesla. Seems fine so far,” Musk said on Twitter https://twitter.com/elonmusk/status/1057010155332628481.

Tesla did not immediately respond to a request for comment.

While Mr. Musk is referred to as chief executive officer in Tesla’s investor relations web page, his biography page on the company website has no designation. The biography page had earlier referred to Mr. Musk as Chairman, Product Architect and CEO.

Mr. Musk later Tweeted “ https://twitter.com/elonmusk/status/1057030946594029569: “Legally required officers of a corporation are President, Treasurer and Cecretary. Guess I have to keep 1st one or it will confuse the authorities.”

Mr. Musk was fined and has agreed to pay a $20-M and step aside as Tesla’s Chairman of the Board for 3 years to settle charges with the US Securities and Exchange Commission (SEC) related to his 7 August prank ‘420’ Tweet about taking Tesla private.

In its initial lawsuit, the SEC had sought to bar Mr. Musk as an officer or a director of a public company, Mr. Musk is the subject of a US DOJ criminal investigation.

Mr. Musk’s compulsive Tweeting and erratic behavior, which included smoking marijuana during a video interview, has raised concerns about his leadership ability, with several Wall Street analysts and some investors urging Tesla to appoint a strong 2nd-in-command.

The Silicon Valley billionaire slowed his critics last week when Tesla reported a net profit, positive cash flow and wider-than-expected margins in Q-3, delivering on his promise to turn the EV maker profitable as higher production volumes of its new M-3 began to pay off.

HeffX-LTN’s overall outlook for Tesla is Neutral.

Stay tuned…

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