Also categorized in BoardNews:
Ford Fires CEO Mark Fields; Former Steelcase Chief Jim Hackett To Take Over
x hide permanently

Tesla CEO Elon Musk Answers SolarCity Investors Who Say He Was a ‘Conflicted’ Fiduciary

fortune.com

Tesla Chief Executive Officer Elon Musk said he was involved in some discussions about the $2.6 billion acquisition of SolarCity in 2016, though he recused himself from a board vote approving the initial offer.

Musk made the disclosure when he was questioned under oath by lawyers for pension and investment funds that claim he duped investors into backing the buyout of the solar-energy company that was founded by his cousins and where he was the chairman and largest shareholder...

Mentions: Conflict of Interest Investment Investors