Deals
Tesla Taps Ellison, HR Expert to Prove Musk Is Reined In
- SEC gave company 90 days after settlement to boost governance
- CEO has lambasted agency, bristled at idea he’ll be restrained
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Tesla Inc. added Larry Ellison and Kathleen Wilson-Thompson to its board, picking a controversial Silicon Valley luminary and a respected human-resources expert to show securities regulators that it’s giving Elon Musk more oversight.
Ellison, the co-founder of Oracle Corp., and Wilson-Thompson, the global chief human resources officer of Walgreens Boots Alliance Inc., join a board the Securities and Exchange Commission ordered to step up its oversight after Musk claimed in August to have had the funding and investor support for a buyout. The chief executive officer relinquished the role of chairman in November, and both he and the company agreed to pay $20 million penalties.