Elon Musk leaves the post of Chairman of the Board of Directors of Tesla. This decision was made under the pressure from the U.S. securities and the exchange commission.
Elon Musk will retain the position of General Director of the company, but within 3 years he will not be able to nominate his candidacy for the position of Chairman of the Board of Directors. Also, Elon Musk will have to pay compensation in the amount of $ 20 million.
The scandal broke out due to a message on Twitter on August 7, in which Elon Musk reported that he intends to buy Tesla shares at a cost 20% higher than the market, thereby turning the automaker into a private company. After this message, the value of the shares of the company skyrocketed. The US securities and exchange commission saw signs of market manipulation in the actions of Elon Musk.