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Elon Musk took to
Monday with messages that have caused confusion over his official role in
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Inc.
TSLA 1.19%
a month after a settlement with the federal regulators, partly to better regulate its public statements.
"Deleted my Tesla titles last week to see what would happen," said one post on Mr. Musk's official Twitter account Monday afternoon. "I am now the nothing of Tesla. It seems to be going on now. Less than 90 minutes later, at 3:06 pm PDT, he suggested in another tweet that he takes the title of president to fulfill the legal obligations of the leaders of the company, or "this will confuse the authorities".
Tesla did not respond to requests for clarification. The company has not disclosed any change in the status of Chief Executive Officer and chairman of the Board of Directors of Mr Musk, although he is expected to relinquish his presidency by mid-November as part of a September 29 agreement with the Securities and Exchange Commission.
Mr. Musk's tweet on Monday referred to the recent deletion of his titles on the Tesla website's management page, where the titles of two other senior executives were also removed. The company did not explain the changes.
The SEC's deal was aimed at settling the agency's accusations that Mr. Musk would have misled investors by tweets on Aug. 7, claiming he had secured funding for Tesla be private. Stocks skyrocketed after the announcement unexpectedly, before collapsing later the following days, when it became apparent that no plan of this type had been finalized.
The settlement required that Musk and Tesla each pay $ 20 million. He was also forced to resign as Chairman of the Board for three years and add two new independent directors to Tesla and put in place a communications oversight system for Mr. Musk.
Mr. Musk continued his unorthodox use of Twitter since the settlement. On October 4, he appeared to make fun of the SEC with a tweet calling it a "short-term enrichment commission," referring to his enmities with investors who were betting on the decline in Tesla shares. Friday night, he suggested on Twitter that his tweet of August 7 was worth it, despite the fine imposed by the SEC.
Tesla shares, which closed up 1.2% on Monday, lost up to 1% after normal trading hours before regaining ground.
The latest episode on Twitter follows Tesla last week, posting a record profit for the third quarter, surpassing Wall Street's expectations and reinforcing the hope that Tesla's new model 3 could help turn it into a competitor. much larger car manufacturers.
Earlier this year, the Tesla Board of Directors awarded Mr. Musk a preliminary compensation program of up to $ 2.62 billion, which is paid in shares of the company if takes several important steps during the decade. The package requires him to be the President and Chief Executive Officer or the Executive Chairman and Product Manager of the Tesla Group at every decisive step for the allotment of shares.
Write to Tim Higgins at [email protected]
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