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Tesla Names a Successor to Elon Musk as Board Chief

Six weeks after settling a securities-fraud lawsuit with federal regulators, Tesla and Elon Musk have made good on one of the agreement’s key provisions — naming a new board chief to impose order on a company whose automaking has often been overshadowed by Mr. Musk’s behavior.The company said a current director, Robyn Denholm, would become its chairwoman immediately. Mr. Musk stepped down as chairman last month but remains Tesla’s chief executive.Ms. Denholm, 55, is the chief financial officer of Telstra, which dominates telecommunications in Australia. She is a longtime technology executive with experience in Silicon Valley, where Tesla is based, and once worked for Toyota in Australia.The…

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State of the Art: How Mark Zuckerberg Became Too Big to Fail

A few weeks ago, after Facebook revealed that tens of millions of its users’ accounts had been exposed in a security breach, I began asking people in and around the tech industry a simple question: Should Mark Zuckerberg still be running Facebook?I’ll spare you the suspense. Just about everyone thought Mr. Zuckerberg was still the right man for the job, if not the only man for the job. This included people who currently work at Facebook, people who used to work at Facebook, financial analysts, venture capitalists, tech-skeptic activists, ardent critics of the company and its giddiest supporters.The consensus went like this: Even if Mr. Zuckerberg —…

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Elon Musk Steps Down as Tesla’s Chairman in Settlement With S.E.C. Over Go-Private Tweet

Elon Musk, under pressure from his lawyers and investors of Tesla, the company he co-founded, reached a deal with the Securities and Exchange Commission on Saturday to resolve securities fraud charges. The settlement will force Mr. Musk to step aside as chairman for three years and pay a $20 million fine.The S.E.C. announced the deal two days after it sued Mr. Musk in federal court for misleading investors over his post on Twitter last month that he had “funding secured” for a buyout of the electric-car company at $420 a share.The deal with the S.E.C. will allow him to remain as chief executive, something he could have…

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Sloan Kettering Executive Turns Over Windfall Stake in Biotech Start-Up

This article was reported and written in a collaboration with ProPublica, the nonprofit journalism organization.A vice president of Memorial Sloan Kettering Cancer Center has to turn over to the hospital nearly $1.4 million of a windfall stake in a biotech company, in light of a series of for-profit deals and industry conflicts at the cancer center that has forced it to re-examine its corporate relationships.The vice president, Dr. Gregory Raskin, oversees hospital ventures with for-profit companies. As compensation for representing the hospital on the biotech company’s board, Dr. Raskin received stock options whose value soared when the start-up went public a little over a week ago.The move…

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5 Takeaways From Elon Musk’s Interview With The Times About Tesla

Will There Be a No. 2?“To the best of my knowledge,” Mr. Musk told The Times on Thursday, there was “no active search right now.” People familiar with the matter, however, said that executives were looking for a No. 2 executive, and one person said the hunt had intensified in recent weeks.A couple of years ago, Tesla approached Sheryl Sandberg, currently Facebook’s second most senior executive, about the job, Mr. Musk said.No RegretsAlthough his tweet prompted questions from the Securities and Exchange Commission — such information is usually issued through official channels after extensive preparation — and from his own board, Mr. Musk said he did not…

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Elon Musk Details ‘Excruciating’ Personal Toll of Tesla Turmoil

Elon Musk was at home in Los Angeles, struggling to maintain his composure. “This past year has been the most difficult and painful year of my career,” he said. “It was excruciating.”The year has only gotten more intense for Mr. Musk, the chairman and chief executive of the electric-car maker Tesla, since he abruptly declared on Twitter last week that he hoped to convert the publicly traded company into a private one. The episode kicked off a furor in the markets and within Tesla itself, and he acknowledged on Thursday that he was fraying.In an hourlong interview with The New York Times, he choked up multiple times,…

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Tesla Directors, in Damage Control Mode, Want Elon Musk to Stop Tweeting

Members of Tesla’s board are scrambling to control a chief executive who some directors think is out of control.Elon Musk, the electric-car maker’s co-founder and chief executive, stirred up a public storm by announcing on Twitter last week that he wanted to turn Tesla into a private company. In recent days, according to people familiar with the matter, some of his fellow board members delivered a stern message: Stop tweeting.Mr. Musk hasn’t heeded that advice. He has continued to post messages on Twitter, publicly plotting the company’s strategy and in some cases making assertions of dubious accuracy. That has only added to the chaos engulfing the struggling…

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Tesla Turns Back Rare Challenge From Shareholders

As the company has used up cash, analysts warned that it may have to turn to investors for additional capital. And earlier this year, Moody’s Investors Service downgraded Tesla’s credit ratings, citing the Model 3 and the company’s high expenses. But there have also been difficulties beyond the balance sheet: Federal safety regulators are investigating its Autopilot technology after a series of crashes, including a fatal accident in March in California, that occurred while the driver-assistance system was engaged.Still, many investors remain wildly supportive of Mr. Musk and Tesla — the company’s stock has rallied in recent weeks after tumbling sharply in late March and early April…

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