Larry Ellison of Oracle becomes director at Tesla

Larry Ellison of Oracle becomes director at Tesla

Larry Ellison, CEO of Oracle, joins the Board of Directors of Tesla as an independent member. This was announced by the manufacturer of electric cars last weekend. The Oracle leader will advise Tesla CEO Elon Musk on the course of the company.

In concrete terms, the appointment of Ellison is a response to a demand from the American stock market regulator SEC to the car manufacturer to provide more supervision of the occasionally eccentric policy and behaviour of founder and CEO Elon Musk in the context of the American legislation and regulations on corporate governance.

Behaviour Elon Musk

This year, Musk often appeared in the news with extreme ideas about the course of the company and about a threat to take the car manufacturer off the stock market. In doing so, he violated various American regulations on corporate governance. The SEC then intervened and imposed a number of mandatory measures on the company to bring the CEO under control.

Last November, Musk resigned his role as Chairman of the Board and paid a fine to the American regulator.

Another member of the Board

In addition to Ellison, Kathleen Wilson-Thompson of the Wallgreens Boots Alliance health products company also joins the Tesla board. She is an expert in the field of human resources.

This news article was automatically translated from Dutch to give a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.