He was sued by the SEC after being accused of making "false and misleading" tweets about potentially taking Tesla private.
It just isn't turning out to be the right year for Tesla, and the company will be more than eager to let this pass asap.
"His vocal support for Mr Musk doesn't suggest the kind of objectivity coming in that I think people had hoped for", said Charles Elson, director of the John L. Weinberg Center for Corporate Governance at the University of Delaware.
Nothing wrong for being a shill for your company and its products on social media, but it's becoming more clear as to why he was so motivated to try to drum of up sales for a company that supposedly has a lengthy waiting list for new Model 3 sedans. "You know, he's landing rockets on robot drone rafts in the ocean".
Yes, it's that Larry Ellison-the Oracle founder, and one of the richest men in the world, who made a cameo alongside Musk in Iron Man 2. Musk later apologized, but that was tame compared with what came next: The tweet that he could take Tesla private for $420 a share, which ultimately led to a settlement with the Securities and Exchange Commission, including a new chairman for the company. Those with at least seven directors need to have at least three women by 2021. It can take weeks or months between the time a Tesla is ordered and when it's delivered. Baird continues to rate Tesla stock outperform. There were plenty of other diversions in between, but perhaps most importantly, Tesla turned a surprise profit in its most recent quarter, reported in October. Since then, the chief executive has publicly lampooned the agency and bristled at the notion that he'll change his Twitter habits.
Tesla argued that it is now at a disadvantage going forward.
So, Tesla settled for tech luminary and Elon's BFF, Larry Ellison, to fill one of its two open independent director roles. Before he joined the company, he represented Musk through two divorces.
In November, Phil Rothenberg, a vice president on Tesla's legal staff, left to became general counsel at Sonder, a hospitality startup.