Tesla: James Murdoch firming as chairman candidate

Tesla: James Murdoch firming as chairman candidate

James Murdoch has emerged as the frontrunner to replace Elon Musk as chairman of Tesla, it was reported last night. He joined Tesla's board previous year as a non-executive director and has reportedly said he wants the job of chair.

Following the SEC's ruling it was said that two independent replacements would be appointed in the chair roles.

Son of media mogul Rupert Murdoch, James Murdoch is now serving as CEO for 21st Century Fox, although he set to depart from that role when the company transfers to Disney ownership. KeyCorp set a $300.00 price objective on Tesla and gave the company a "hold" rating in a report on Tuesday, July 3rd.

"Ilona found without creating a near Tesla Model 3, surrounded by bottles of "Teslaquilla", traces of dried tears still visible on his cheeks", wrote then Musk. Of course, that does not mean that Murdoch is out of the race altogether, merely that he is not a Musk favorite.

James Murdoch could become the next head of Tesla's board of directors.

A bibliophile and a business enthusiast.

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Mr Murdoch, the younger son of Rupert Murdoch, has served on Tesla's board since 2017.

Elon Musk's tweets may have mocked the Securities and Exchange Commission, but his court filings are serious about settling the fraud charges that the SEC had lodged against him.

"This is incorrect", Musk tweeted in response, without elaborating. However, the FT also cited an anonymous source as saying that "external options were still being considered". Murdoch is said to be interested in taking the job, according to the report.

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.

Concerns about production delays and manufacturing challenges have been exacerbated by a series of damaging actions, including Musk insulting analysts on a conference call, calling a British cave rescuer a pedophile, and joking on April Fool's Day that Tesla was going bankrupt. Jennison Associates LLC now owns 4,332,187 shares of the electric vehicle producer's stock worth $1,485,724,000 after purchasing an additional 1,089,377 shares during the last quarter. A federal judge is due to review the settlement on Thursday.

Importantly, the settlement requires Tesla to add two new independent members to its board, which is dominated by Musk allies including his brother and longtime investors and friends.

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