Months after settlement saga with Securities and Exchange Commission (SEC), Tesla has roped in Oracle founder Larry Ellison and former Kellogg HR head Kathleen Wilson-Thompson as an independent director on its board. As per the settlement with SEC the company was mandated to add two new independent board members.
Tesla said that its board, led by Nominating and Corporate Governance Committee conducted a thorough, expansive process in searching for its new independent directors, considering candidates with a wide range of skill sets from across the globe who also hold a strong personal belief in Tesla’s mission of accelerating the world’s transition to sustainable energy.
“In conducting a widespread search over the last few months, we sought to add independent directors with skills that would complement the current board’s experience. In Larry and Kathleen, we have added a preeminent entrepreneur and a human resources leader, both of whom have a passion for sustainable energy,” said Tesla’s Board of Directors in a statement.
In September, SEC had charged Musk with securities fraud over the “false and misleading” statements he made on Twitter, when he suddenly announced plans to turn Tesla back into a privately held company. The entrepreneur quickly settled with the SEC.
Both Larry and Musk are good friends and Oracle chairman owns three million shares in Tesla. “Larry is a big believer in Tesla’s mission, having purchased 3 million shares earlier this year,” said the company.
On the other hand, Kathleen comes with decades of leadership experience in global human resources management. After spending 17 years at Kellogg, and now serving as Executive Vice President and Global Chief Human Resources Officer of Walgreens Boots Alliance, the America’s largest pharmacy and health and wellness company with more than 350,000 employees, Kathleen brings a passion for building and promoting great workplaces, said the company. Kathleen also has nearly 10 years of board experience, serving on public boards at two US-based manufacturing companies.