12/28/2018

Tesla Board Gains Larry Ellison, Walgreens HR Exec

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Tesla Inc.’s board has added Oracle co-founder Larry Ellison and Kathleen Wilson-Thompson, the head of human resources for Walgreens Boots Alliance.

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Tesla Inc.’s board has added Oracle Corp. co-founder Larry Ellison and Kathleen Wilson-Thompson, the head of human resources for Walgreens Boots Alliance Inc.

The two executives expand Tesla’s board to 11 members, three of whom are women. The additions also complete the terms of a fraud settlement between Musk, Tesla and the U.S. Security and Exchange Commission concerning Musk’s inaccurate tweets in August about privatizing the carmaker.

Under other aspects of the deal, Musk relinquished his chairmanship in November, and he and Tesla each paid $20 million fines to the SEC.

The expanded board is intended to strengthen governance and oversight at Tesla, where Musk’s unusual behavior has drawn concern about his ability to transform Tesla into a sustainable business.

Ellison, who describes Musk as a close friend, revealed in October that he has quietly become Tesla’s second-largest shareholder, after Musk.


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