Tesla names Larry Ellison, Walgreens executive to board

Tesla Inc on Friday named two independent board directors as part of a September deal with federal regulators to move past the turbulence that followed Chief Executive Elon Musk’s tweet about taking the electric carmaker private.

The company said Oracle Corp co-founder Larry Ellison and Walgreens Boots Alliance’s global head of human resources, Kathleen Wilson-Thompson, joined the board, effective Dec. 27.

Ellison, who calls himself a close friend of Musk, bought 3 million shares of Tesla earlier this year.

Under an agreement with the U.S. Securities and Exchange Commission, Musk agreed to pay a $20 million fine and step aside as Tesla’s chairman for three years to settle charges that could have forced his exit. Tesla also agreed to pay a $20 million fine.

Tesla further consented to the appointment of an independent chairman, two independent directors and a board committee to control Musk’s communications.

In November, Tesla named director Robyn Denholm as board chair, fulfilling one of the demands. She joined Tesla as an independent director in 2014 and agreed to step down from her job as finance chief of Australian telecoms firm Telstra Corp Ltd.

The company’s shares were up 4.4 percent at $330 in early trading on Friday.

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