Musk denies report James Murdoch poised to be Tesla chairperson

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James Murdoch 'favourite for Tesla post' | Business

Elizabeth Lopatto connects the dots to surmise that Elon Musk wants Antonio Gracias as the chairman instead of the less-friendly James Murdoch. Two new independent directors will also be added to the board.

Musk explained in an email that being public, "s$3 ubjects Tesla to constant defamatory attacks by the short-selling community, resulting in great harm to our valuable brand". Of course, that does not mean that Murdoch is out of the race altogether, merely that he is not a Musk favorite. The CEO may not be a chairman of the Tesla board for three years.

The son of newspaper, satellite TV and movie studio tycoon Rupert Murdoch is now the lead candidate for the Tesla chair, the Financial Times reported on Wednesday, citing two people briefed on the discussions.

A bibliophile and a business enthusiast. He stepped down from the board of Sky Plc on Tuesday following the completion of Comcast's takeover.

After years and years of working with various media companies, last year James Murdoch joined Tesla's board.

Murdoch could not immediately be reached for comment.

Musk agreed on September 30 to step down as chairman and pay a $20 million fine as punishment over tweets about having "funding secured" to take Tesla private that turned out to be untrue. Because if Murdoch does take the board, part of his duties include succession planning for senior executives. "It's no accident he oversaw that strategy, which was really distinct from the strategy other pay-TV companies followed, and in my view was his most valuable contribution". The terms of that agreement included Tesla appointing a new independent chairman by the middle of November.

While James Murdoch is the current CEO of 21 Century Fox, he will step down from the position after most of its assets are sold to Disney.

On April Fools' Day, Tesla joked it was creating a Teslaquila. Tesla has a 1 year low of $244.59 and a 1 year high of $387.46. (TSLA) and the electric auto maker's CEO Elon Musk have reaffirmed that they are happy with the terms of their previously agreed settlement and have urged a federal judge to get it approved as soon as possible.

He was one of two new members the firm appointed previous year after criticism that the board - which includes Mr Musk's brother and a close business partner - needed to show more independence.

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