1. Tesla's Board is So Bad at its Job, it Failed at the One Thing it Says is Paramount — Protecting CEO Elon Musk

    Tesla's Board is So Bad at its Job, it Failed at the One Thing it Says is Paramount — Protecting CEO Elon Musk
    • Tesla's board has repeatedly made clear that it sees its duty as ensuring that Elon Musk remain in a leadership role at the company — not representing shareholders' interests.
    • But Musk's role at Tesla is now in jeopardy, thanks to charges filed against him by the Securities and Exchange Commission in connection with his series of tweets about potentially taking Tesla private.
    • The SEC is seeking to bar him from serving as a director or officer at a public company...
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    1. Tesla and the board of directors are fully confident in Elon, his integrity, and his leadership of the company, which has resulted in the most successful US auto company in over a century.
    2. The board believes that having the active and engaged services of Mr. Musk is important to the continued growth and long-term interests of Tesla.
    3. The board believes that the company's success to date would not have been possible if the board was led by another director lacking Elon Musk's day-to-day exposure to the company's business.
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