Tesla is not the “private plaything” of Elon Musk and its board needs to ensure that the billionaire chief executive’s “hardcore” focus on Twitter doesn’t conflict with his role at Tesla, Sen. Elizabeth Warren wrote the company’s chair on Monday.
Tesla Inc. is not the “private plaything” of Elon Musk and its board needs to ensure that the billionaire chief executive’s “hardcore” focus on Twitter doesn’t conflict with his role at the electric-car maker, Sen. Elizabeth Warren wrote the company’s chair on Monday.
— Sen. Elizabeth Warren, in letter to Tesla Board Chair Robyn Denholm In a letter to Tesla TSLA, -0.24% Chair Robyn Denholm, Warren said she was writing over concerns that the board has failed to meet its legal duty of ensuring that its CEO “does not treat the company as a private plaything.
“The fact that Mr. Musk was, until recently, the world’s richest man does not absolve him of those legal responsibilities or provide assurances that he will meet them,” Warren said in an apparent dig at Musk, who recently lost his title as the world’s richest person to LVMH LVMH, -1.38% Chair and CEO Bernard Arnault as Tesla shares have dropped 35% since Musk closed on his $44 billion purchase of Twitter.
For more: Tesla stock suffers worst week since 2020 as Elon Musk sells, large shareholder asks for new CEO
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