Musk denies Murdoch Jr in line for Tesla chairman post

Oscar PerryOct 14, 2018

Finally, Barclays set a $210.00 price target on Tesla and gave the stock a "sell" rating in a research note on Monday, August 27th. Whoever it is, will find himself (or herself) in a position where they may just be called upon to act as a counterweight to Musk's excesses.

Tesla will also establish a new board committee responsible for disclosures.

James Murdoch, who is in the final stages of detaching from 21st Century Fox before most of it is formally acquired by Disney, has emerged as the favorite to replace Elon Musk as chairman of Tesla, the Financial Times has reported.

Twitter/Getty Teslaquila is apparently coming soon, according to a cryptic tweet by Elon Musk, after news of his company applying to trademark the word came out.

Musk tweeted a photo of the liquor, complete with Tesla branding and logo. Of course, that does not mean that Murdoch is out of the race altogether, merely that he is not a Musk favorite. Elon Musk then published in the network on which it sits kind of passed out, leaning on the side of the electric auto, and on the chest hangs a Board with the inscription "Bankrupt".

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The Financial Times cited two people briefed on discussions saying Murdoch was the lead candidate for the job.

A bibliophile and a business enthusiast.

Murdoch, who at 45 is a near contemporary of 47-year-old Musk, recently navigated a takeover battle between Fox and Comcast Corp to buy European pay-TV company Sky, which he also chaired. James Murdoch is the son of billionaire media mogul Rupert Murdoch and joined Tesla's board after years of working in media. He abandoned that effort in a matter of weeks and has agreed to settle a securities fraud lawsuit brought by the U.S. Securities and Exchange Commission. Tesla also must appoint two additional independent directors under the SEC agreement. Because if Murdoch does take the board, part of his duties include succession planning for senior executives. Clyde has been working as a freelance journalist for almost a decade having published stories in many print and digital publications including, the Financial Post and the Huff Post Canada.

Tesla is under scrutiny for failing to produce its Model 3 sedan quickly enough and in sufficient volume to meet customer demand. Tesla has a 1 year low of $244.59 and a 1 year high of $387.46. It remains to be seen if Musk's preferences matter in the settlement, terms of which must be finalized by a federal district court judge.

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