Wanted: A seasoned executive with a steady hand, a passion for electric cars and the mettle to rein in a CEO with itchy Twitter fingers.
That’s pretty much the job posting Tesla Inc. agreed to as part of the settlement nine days ago with the U.S. Securities and Exchange Commission, which requires the company to appoint an independent chairman to replace Elon Musk and add two directors to the board. Names being floated as candidates for the chairmanship have ranged from former Vice President Al Gore to one-time CEOs including Jim McNerney of Boeing Co. and Alan Mulally of Ford Motor Co.
What shareholders want, of course, is someone who can put Tesla on the path to profitability and also manage Musk, whose tweets about having secured the funding and investor support to take the company private was what got him into hot water with the SEC — and who, not incidentally, was busy on Twitter last week taunting the agency. The Sept. 29 settlement will keep him out of the top board seat for three years.
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Tesla Is Looking for a Manager to Handle Elon Musk